Speaker Galust Sahakyan calls an urgent meeting on turnover tax law
01.10.2014,
13:28
An urgent meeting will be held today 13:30 local time at speaker’s office, on the status of the turnover tax law that raised discontent among small and medium-sized businesses in Armenia.
YEREVAN, October 1. /ARKA/. An urgent meeting will be held today 13:30 local time at speaker’s office, on the status of the turnover tax law that raised discontent among small and medium-sized businesses in Armenia.
The meeting was initiated by ‘not ruling’ factions of the National Assembly.
Yesterday the special parliament sitting on this matter failed due to no quorum present.
The bill envisages reduction of turnover tax rates from 3.5% to 1% for economic entities engaged in trade as from October 1. A simplified documentation procedure is to become binding for small and medium-sized enterprises under the law. Small and medium businesses are currently holding protests against the obligatory documentation procedure outside the parliament and government buildings.
Another parliament sitting failed due to lack of quorum the day before. The sitting was to discuss bills about enforcement of court orders and about administrative offences. –0--
