ARMENIAN PRESIDENT DEMANDS ELIMINATION OF TAX LOOPHOLES

Arka News Agency, Armenia
Dec 11 2006

YEREVAN, December 11. /ARKA/. The Armenian President pronounced for
the elimination of tax loopholes. At a meeting that discussed issues
of ensuring tax revenues the RA President stated that the current tax
revenues do not meet the potential. Kocharyan demanded that attention
be focused on ensuring equal conditions for all economic entities.

The President pointed out that at the end of each year the year’s
results are normally summed up and programs for the next year are
planned. He stated that the implementation of the programs is mainly
conditioned by the activities of tax and customs services.

According to the President, tax revenues are expected to seriously
increase in 2007. "Therefore, we must be sure that the reforms will
be continued, and the planned work will be completed with quality."

Kocharyan believes that despite the work carried out during the last
1-2 years, the situation is far from being satisfactory.

He stated that next year he will be "much more exacting" and expects
positive changes.

According to him, good work can considerably improve tax collection,
which will allow more work to be done and more problems to be resolved.

Participating in the meeting were RA Premier Andranik Margaryan,
Minister of Finance Vardan Khachatryan, Minister of Trade and Economic
Development Karen Chshmarityan, Chairman of the Central Bank of Armenia
Tigran Sargsyan, the Chiefs of the RA Taxation and Custom Services,
Felix Tsolakyan and Armen Avetisyan.