Armenian government approves tax assistance program for slaughterhouses
YEREVAN, August 1. /ARKA/. The Armenian government approved a tax assistance program for slaughterhouses during its session on Thursday.
Minister of Economy Gevorg Papoyan noted that slaughterhouses currently operate under unequal conditions, with small slaughterhouses paying turnover tax and large ones paying VAT and profit tax.
Due to inadequate administration, entrepreneurs often conceal and do not document actual turnover to avoid falling under VAT taxation.
To level the playing field, a project has been proposed where until December 31, 2027, taxpayers will be refunded 75% of the positive difference between VAT paid on meat sales and VAT paid on livestock purchases.
The minister specified that the assistance would not apply to slaughterhouses that slaughter their own livestock or provide slaughtering services in exchange for the right to sell the resulting meat.
It is planned that in 2024, 200 million drams will be required for payments under this benefit, and approximately 450 million drams annually from 2025 to 2027.
