The draft refers to the type of trade-in trade. As early as 2021, amendments were made to the Law on Trade and Services, which introduced the notion of ‘trade-in’. A licensing procedure was also introduced, within the framework of which certain organizations were licensed during this period, but we noticed that there was no significant increase in transactions during this period. The RA Deputy Minister of Economy Rafayel Gevorgyan said this while presenting the draft law on Amending the Law on Trade and Services in the first reading at the sitting of the National Assembly on May 22.
The Deputy Minister said that in connection with the problems, it was proposed to make an amendment in the law aimed at eliminating the existing ambiguities.
In addition, it is also proposed to expand the scope of trade-in trade to a certain extent and to allow the cars purchased from individuals to be taken with compensation and sold to other persons. “Those transactions will also be completely exempt from the value added tax (VAT), with the exception of the part that will be added between those two transactions,” the rapporteur said.
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Narek Ghahramanyan presented the endorsement of the NA Standing Committee on Economic Affairs.
National Assembly of the Republic of Armenia