VAZGEN MANUKYAN PROMISES TO CUT THE PROFIT TAX

armradio.am
11.02.2008 14:38

Armenian presidential candidate, leader of the National-Democratic
Union (NDU) Vazgen Manukian stated in Yerevan today that in case he is
elected, he will cut down the rate for profit tax from the present 20%
to 15%.

"We understand that in a short-term perspective this will have negative
influence on the budget proceeds. However, in a year we will witness
more intensive economic growth," Vazgen Manukian stated, presenting
his economic program.

The candidate also noted that it is necessary to cancel the present
order of collection of teh value-added tax on the border from products,
which have not been realized yet.

asked about the struggle against shadow economy, Vazgen Manukian noted
that "the peculiarity of the shadow sector of Armenia, which makes,
according to certain data, up to 50% from the GDP, is its interlocking
with authority structures, and against this very phenomenon it is
necessary to struggle in the first place."
From: Baghdasarian