NATIONAL ASSEMBLY PASSES IN FIRST READING 2 TAX PACKAGES AND BILL ON AMENDMENTS IN LAW ON FIXED PAYMENTS

NOYAN TAPAN

Dec 25, 2008
YEREVAN

The RA National Assembly on December 25 passed in first reading 2
tax packages and the bill on amendments and additions to the Law on
Fixed Payments. The indicated packages and the bill were discussed
the day before.

By a decision taken two days ago, "Prosperous Armenia" faction
making part of the political coalition voted against the amendments
and additions to the Law on Fixed Payments, by which the government
proposes, in particular, revising the taxation order of gas filling
stations, hairdressing salons and hotel rooms, as well as raising tax
rates for gaming-tables and game-playing machines. The faction also
voted against one of the tax packages, which includes the draft law
on privileged payments and some amendments and additions to a number
of tax laws.

The parliament passed in first reading the bill on an addition to the
Law on State Debt. According to the main speaker, RA deputy minister
of finance Suren Karayan, under the current law, the amount of a state
guarantee shall not exceed 20% of the assets of the guarantee receiver
at the moment of applying for a guarantee. The addition proposed by
the government envisages establishing an exception for the current
restriction on provision of state guarantees, which will enable to
use state guarantees as an instrument for meeting the existing demand
for credit resources in the economy in case of crisis situations and
big state purchases. It was mentioned that lifting this restriction
does not pose any danger because under the Law on Budgetary System,
a state guarantee provided to a legal entity shall be ensured by a
pledge of the given person, and the pledge shall be no less than the
whole amount of the guarantee.

From: Emil Lazarian | Ararat NewsPress