STAR IS READY TO TAKE PART IN GOVERNMENT’S TAX REFORMS

arminfo
2008-08-12 20:29:00

ArmInfo. The leading super-market network of Armenia, STAR, is ready
to take part in the tax reforms that are currently being implemented
by the Armenian Government and to offer its knowledge and experience
of applying high-quality and effective echnological solutions,
Vahan Kerobyan, the executive Director of STAR, said during a
press-conference today.

"These reforms are crucial for our economy. Our discussions with
foreign investors and local businessmen have shown that transparent
economy is the key component of our prosperity and competitiveness,"
Kerobyan said.

Today, it is important to develop the sectors that provide
technological support for the economy. Our tax legislation must
but is not reacting to the global tendencies for application of
modern information technologies in retail trade. This is seriously
complicating the work of local supermarkets.

"None of the 100 types of cash and sales check systems registered by
the Tax Service of Armenia suits a modern super-market as they can
carry out several dozens rather than several thousands transactions
a day and can be used in small shops only," Kerobyan said. He noted
that local IT companies were unable to design software for issuing
sales checks in Armenian. "Meanwhile, our super-markets apply the
best technological solutions in the world," Kerobyan said.

He advised the Government and the Tax Service of Armenia to cooperate
with retail companies and to consider their recommendations on how
to improve the reform rather than just impose it on them. "We have
repeatedly asked the authorities to legalize the best international
technologies we apply in our super-markets: they minimize human factor
and would make tax administration much easier. However, the Tax Service
refuses to accept them," Kerobyan said. He pointed out that cooperation
between the Government and businessmen would enhance the transparency
of retail trade and would stimulate the growth of direct investments.

To remind, one of the shareholders of STAR super-market network,
established in 1998, is the European Bank for Reconstruction
and Development (28.3% stake), The STAR network consists of 11
super-markets: 10 in Yerevan and 1 in Hrazdan.