INTRODUCTION OF VAT ON AGRICULTURE PRODUCTS MAKES ARMENIAN FARMING ENTERPRISES TRANSIT TO SHADOW REGIME OF TRADE, AN EXPERT THINKS

ArmInfo
2009-06-16 15:01:00

ArmInfo. Introduction of VAT on agriculture products makes Armenian
farming enterprises transit to shadow regime of trade, Advisor
to Speaker of the Armenian Parliament for Economic Issues Tatoul
Manaseryan told journalists, Tuesday. To recall, since January 1,
2009, VAT in Armenia has covered producers of agriculture. "Without
the state support the work of farming enterprises is a fight for
survival. If VAT covers farmers, they will do nothing but work in
the shade",- Manaseryan said.

To recall, since 1 January 2009 producers of agriculture with annual
turnover of over 58,37 mln AMD have been subjected to VAT. In March
2009 the Armenian government launched a program on subsidizing the
interest on banking loans of farming enterprises economies. The state
budget is going to allocate 100 mln AMD for this prupose. Possible
expansion of the program is currently being considered.