Legislative Regulation facilitation to kick off in Armenia

YEREVAN,  March 13. /ARKA/. The National Center for Legislative Regulation and Association of Accountants and Auditors of Armenia signed Wednesday a memorandum on mutual understanding. 

Thus, the sides express their readiness to cooperate in reducing the legislative regulations in accounting and audit as well as taxing and other spheres agreed upon. 

“Our center is like a “legislative guillotine,” a program which targets facilitating the laws, reducing number of regulatory procedures ,” Armen Yeghiazaryan, Director of the National Center for Legislative Regulation, said Wednesday as he signed Memorandum. 

He highlighted the experts of the center had already started researching the taxing sphere. According to him it will take a while as at the same time they are designing new methodologies to meet the international standards. 

Yeghiazaryan noted the number of legislative procedures will be cut in the taxing sector as it is one of the most problematic ones. He expressed his hope that the Association of Accountants and Auditors will support the Center in this process. 

Aharon Chilingaryan, President of Council of Association of Accountants and Auditors, on his side, noted accountants often have to assess and proceed  deals, calculate taxing payments, compile financial reports which are later audited, that’s why these specialists are perfectly familiar with these issues and aware of the troubles.

“That’s why we decided to support the government in finding a solution to this pubic task. It will pretty enhance the efficiency of the work,” he explained.

The sides are obliged by the agreement to organize discussions, seminars and other events to propose reforms in the sphere. 

The mission of Association of Accountants and Auditors is to build trust among clients and investors to financial statistics of the organizations operating in the republic. Association supports accountants and auditors in their efforts to raise their professionalism. 

The National Center for Legislative Regulation was established on September 17, 2011. Its mission is to remove all the points in legislature which hinder business environment development in 17 spheres ( entrepreneurship, finances, taxes, customs, healthcare, transport, communications, education, etc.).

The financial burden on business and citizens will be reduced twice and , the legal acts that contain regulatory procedures will be cut by minimum 30%, and 20-30% will be significantly facilitated. 

The investors of the program are Armenia’s government and donor organizations. The investments amounted to nearly $2 million.

In November 2011 Armenia’s government and international  donor organizations signed a letter on intentions to enhance the efficiency of economic regulation of the republic via “regulatory guillotine” tool. 

Thus, the donor organizations express their readiness to support Armenia in its efforts to introduce the tool of quick reforms –“regulatory guillotine”—ensuring improvements in business environment while updating the regulatory policy.  -0-