On May 17, the NA Standing Committee on Economic Affairs debated the draft law on Making Amendments and Addenda to the RA Tax Code with the attached legislative package in the first reading. It was presented by the RA Deputy Minister of Finance Arman Poghosyan.
As a result of the adoption of the drafts, it is expected to reduce the difference between the existing tax burden in the general taxation system and the tax burden of the turnover tax system, establish a unified approach to tax reduction based on the documented costs, increase the level of documentation of transactions in different taxation systems. in preferential taxation systems. Arman Poghosyan noted that today around 55.000 business entities pay turnover tax. According to him, this package also offers solutions that will encourage the transfer from the turnover tax system to the general system of taxation.
During the exchange of ideas, the MPs presented proposals and remarks, urged to further debate the package of drafts by inviting representatives of the concerned sectors, to which the rapporteur responded positively.
The Committee endorsed the package.
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National Assembly of the Republic of Armenia
