FINANCIAL ASSISTANCE TO BE PROVIDED TO COMPANIES – MEMBERS OF RA UNION OF BLIND

Noyan Tapan
May 11 2006

YEREVAN, MAY 11, NOYAN TAPAN. At the May 11 sitting, the Armenian
government made a decision to provide financial assistance to the
companies – members of the NGO “Union of the Blind of Armenia”. NT
was informed about it from the RA Government Information and PR
Department. The decision envisages compensating the companies –
members of the union (in case at least 50% of their employees are
disabled persons) the payments made or to be made for value added tax
(VAT) and compulsory social insurance that formed as a result of 2005
activities but were not compensated from the state budget or will
form as a result of 2006 activities. For this purpose, no more than
62 mln 772 thousand drams was allocated from the account of the 2006
RA government’s reserve fund to the RA Ministry of Labor and Social
Issues, of which 1 mln 800 thousand drams – for compensation of the
sums paid in 2006 based on the results of 2005 activities for VAT
(without sums separated at the tax accounts of suppliers and/or paid
to tax bodies), and no more than 22 mln 160 thousand drams (about 49
thousand USD) – for compensation of sums to be paid in 2006 based on
the results of 2006 activities. 3 mln 232 thousand drams was allocated
for compensation of the sums paid for compulsory social insurance
in 2006 based on the results of 2005 activities, and no more than
35 mln 580 thousand drams – for compensation of such payments to
be made in 2006 based on the results of 2006 activities. According
to the decision, the sums to be allocated from the 2006 RA state
budget through the treasury account of the RA Ministry of Labor and
Social Issues will be provided to companies in compliance with the
requirements of the legal acts establshing the procedures of budgets’
execution – based on payment substantiating documents submitted by the
RA Ministry of Labor and Social Issues to the RA Ministry of Finance
and Economy. It was decided that the VAT payments actually paid to
the state budget shall be compensated by 100%, while the compulsory
social insurance payments actually made by employers to the budget of
the RA State Social Insurance Fund – by 81.5%. Under the decision,
the sums paid by companies to the respective budgets in excess of
the amounts calculated based on the quarterly (monthly, annual) VAT
and compulsory social insurance payment statements by the results of
2006 activities are not subject to compensation.