Pashinyan asks minister to find out the reason behind delayed investments
06.02.2019,
15:23
Armenian Prime Minister Nikol Pashinyan asked today Economic Development and Investment Minister Tigran Khachatryan to find out why the $500 million investments pledged earlier by local companies were being delayed.
YEREVAN, February 6. /ARKA/. Armenian Prime Minister Nikol Pashinyan asked today Economic Development and Investment Minister Tigran Khachatryan to find out why the $500 million investments pledged earlier by local companies were being delayed.
Speaking at a Cabinet session he recalled that in 2018 the government had made numerous decisions on the provision of tax and customs benefits to companies importing equipment and raw materials.
"The investments promised by the companies exceeded $500 million and it should be understood how much of them have already been implemented, who are not fulfilling their obligations and how many of the promised new jobs were created," said Pashinyan.
According to him, such scrutiny allows to analyze the productivity of provided tax benefits in order to understand the effectiveness of this tool.
“According to the data we have, there are numerous deviations from the programs. If this is true, then it turns out that we provide non-targeted tax benefits,” said Pashinyan.
Minister Tigran Khachatryan noted that data distortions may be linked with the procedures for their verification.
“Today, we receive reports from companies only once a year and, accordingly, some measures are late. We are now considering the possibility of changing the format of inspections and increasing their frequency so that the government can respond promptly and in a timely manner,” said Khachatryan. --0--
Speaking at a Cabinet session he recalled that in 2018 the government had made numerous decisions on the provision of tax and customs benefits to companies importing equipment and raw materials.
"The investments promised by the companies exceeded $500 million and it should be understood how much of them have already been implemented, who are not fulfilling their obligations and how many of the promised new jobs were created," said Pashinyan.
According to him, such scrutiny allows to analyze the productivity of provided tax benefits in order to understand the effectiveness of this tool.
“According to the data we have, there are numerous deviations from the programs. If this is true, then it turns out that we provide non-targeted tax benefits,” said Pashinyan.
Minister Tigran Khachatryan noted that data distortions may be linked with the procedures for their verification.
“Today, we receive reports from companies only once a year and, accordingly, some measures are late. We are now considering the possibility of changing the format of inspections and increasing their frequency so that the government can respond promptly and in a timely manner,” said Khachatryan. --0--
