SOME TAX PRIVILEGES IN JEWELRY SECTOR NO LONGER SATISFACTORY FOR SECTOR’S DEVELOPMENT

Noyan Tapan

Jan 23, 2009

YEREVAN, JANUARY 23, NOYAN TAPAN. The current problems in the gem and
jewelry sector are first of all conditioned by the global economic
crisis which has left its direct impact on the Armenian economy. This
was stated at the January 23 consultation on problems of the gem and
jewelry sector. The consulation with the participation of heads of
the sector’s enterprises, representatives of the interested ministries
and departments was conducted by the RA Prime Minister Tigran Sargsyan.

He said that some tax privileges in the jewelry sector are no longer
satisfactory for the sector’s further development. In his words,
the problem of nearly 2 thousand employees of 45 jewelry enterprises
and the current difficulties of this perspective sector of Armenian
economy can be overcome by joint efforts and some progress may be
made as soon as in 2009.

The RA Minister of Economy Nerses Yeritsian presented an analysis of
the situation in international gem and jewelry market and the general
picture of Armenia’s sector, the existing difficulties, including
those conditioned by the global financial and economic crisis. He
also spoke about proposals to reduce the negative impact of the crisis.

As NT was informed by the RA Government Information and PR Department,
at the conclusion of the consultation N. Yeritsian was instructed to
summarize, together with the minister of finance and the chairman
of the RA State Revenue Committee, the proposals made during the
discussion and to present a program of measures with a definite
schedule within 2 days.

From: Emil Lazarian | Ararat NewsPress