Government provides customs duty payment benefits and VAT payment deferment
03.05.2018,
17:13
The government of Armenia at a meeting on Thursday decided to provide the ABC Textile company with a set of customs duty payment benefits on imported equipment since it has pledged to invest 10.9 billion drams in the development of textile production in the country, acting minister of economic development and investments Suren Karayan said.
YEREVAN, May 3. /ARKA/. The government of Armenia at a meeting on Thursday decided to provide the ABC Textile company with a set of customs duty payment benefits on imported equipment since it has pledged to invest 10.9 billion drams in the development of textile production in the country, acting minister of economic development and investments Suren Karayan said.
He said the company intends to import equipment and raw materials, which will be used in the light industry. According to him, the investment will enable it to create 175 new jobs with an average wage of 192,000 d drams.
He said the planned annual output is 23 billion drams. Of that amount 3.1 billion drams worth goods to be sold in Armenia, 13.3 billion drams worth goods in the Eurasian Economic Union’s member countries and the 6.7 billion drams worth goods in other countries.
The government also awarded a 3-year VAT payment deferment to Profpanel plant manufacturing solar panels, which will spend 700 million drams on modernization and purchase of new equipment and raw materials. The plant is supposed also to create 11 new jobs with average monthly wages of 175,000 drams. ($ 1 - 484.71 drams). -0-
He said the company intends to import equipment and raw materials, which will be used in the light industry. According to him, the investment will enable it to create 175 new jobs with an average wage of 192,000 d drams.
He said the planned annual output is 23 billion drams. Of that amount 3.1 billion drams worth goods to be sold in Armenia, 13.3 billion drams worth goods in the Eurasian Economic Union’s member countries and the 6.7 billion drams worth goods in other countries.
The government also awarded a 3-year VAT payment deferment to Profpanel plant manufacturing solar panels, which will spend 700 million drams on modernization and purchase of new equipment and raw materials. The plant is supposed also to create 11 new jobs with average monthly wages of 175,000 drams. ($ 1 - 484.71 drams). -0-
