Government Legislative Initiatives Aimed To Ease Tax Burden For SMES
01.11.2011,
16:19
The legislative initiatives of the government are aimed at easing the tax burden for SMEs and increasing it for businesses with big profits, prime minister Tigran Sarkisian said at a news conference Sunday after the first economic conference convened by t
YEREVAN, October 30. / ARKA /. The legislative initiatives of the government are aimed at easing the tax burden for SMEs and increasing it for businesses with big profits, prime minister Tigran Sarkisian said at a news conference Sunday after the first economic conference convened by the ruling Republican Party of Armenia.
He said the government submitted to parliament a package of legislative initiatives designed to boost tax revenues next year by 101 billion drams. According to him, the package includes more than a dozen legislative proposals and changes designed to increase tax collection from large business entities.
The draft 2012 budget approved by the government September 29 calls for 910 billion drams in revenues and 1.042.5 trillion drams in spending. The revenues are expected to grow by 101 billion drams from 2011 budget.
Tigran Sarkisian recalled that both small and medium businesses are granted numerous tax breaks, available now to 35,000 taxpayers. He said tax incentives were provided to facilitate the economic entities to overcome difficulties arising from the crisis. He said the VAT threshold was also revised.
The head of government said implementation of these measures does not mean there is nothing else to do.
"We still have large shadow economy, and our efforts in the first place should be aimed at its reduction and the introduction of the principle of fairness in the tax area," he said. ($ 1 - 378.58 AMD). - 0 -
He said the government submitted to parliament a package of legislative initiatives designed to boost tax revenues next year by 101 billion drams. According to him, the package includes more than a dozen legislative proposals and changes designed to increase tax collection from large business entities.
The draft 2012 budget approved by the government September 29 calls for 910 billion drams in revenues and 1.042.5 trillion drams in spending. The revenues are expected to grow by 101 billion drams from 2011 budget.
Tigran Sarkisian recalled that both small and medium businesses are granted numerous tax breaks, available now to 35,000 taxpayers. He said tax incentives were provided to facilitate the economic entities to overcome difficulties arising from the crisis. He said the VAT threshold was also revised.
The head of government said implementation of these measures does not mean there is nothing else to do.
"We still have large shadow economy, and our efforts in the first place should be aimed at its reduction and the introduction of the principle of fairness in the tax area," he said. ($ 1 - 378.58 AMD). - 0 -
