31 January 2015, 19:20
Armenian authorities postpone enforcement of amendments until July 1
The entry into force of amendments to the Law "On Turnover Tax" has been suspended until July 1; the respective decision was made today by the Government of Armenia.
The "Caucasian Knot" has reported that on February 1, 2015, Armenia was to enact amendments to the Law "On Turnover Tax". Under the amendments, entrepreneurs were required to present to the Ministry of Finance of Armenia reports and invoice for each goods item; otherwise, they were under a threat of a fine to be imposed by the Tax Service.
According to the government, the decision to postpone the entry into force of the amendments was made after the meeting of Prime Minister Ovik Abramyan with the President Serzh Sargsyan.
According to the press service of the government, the Premier Abramyan instructed his employees to draft, before July 1, such legislation provisions, which will create more favourable conditions for entrepreneurs, whose total annual turnover makes 58,350,000 drams (about 100,000 US dollars).
The amendments to the Law "On Turnover Tax" triggered entrepreneurs' regular protests in Armenia with demands to repeal the amendments.
Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.
Author: Armine Martirosyan Source: CK correspondent
