PARLIAMENT APPROVES TAX PACKAGE IN THE FIRST READING

ARMENPRESS
SEPTEMBER 15, 2009
YEREVAN

YEREVAN, SEPTEMBER 15, ARMENPRESS: The sixth session of the parliament
kicked off today the agenda of which included more than 110 issues. The
first four-day session includes 80 issues, 12 agreements are presented
for ratification.

Today in the first reading the parliament approved with 73 for, 23
against and one abstained the tax package presented by the government
and discussed at the previous session and criticized by all the
factions. The new package suggests changes in laws "About Tax",
"About Excise Tax", "About Value Added Tax", "Income Tax" and in
legislature on administrative breaches.

Before the voting deputy finance minister Suren Karayan presented the
implemented changes which were done as a result of many discussions.

Particularly the bill clarifies the commitments of the tax
representative: the latter will have a right only during the delivery
of ready-made product to control the physical volume of the product,
the sale price and only documents connected with sale.

"That is to say the tax representative will not enter the production
process, he will not know production secrets and neither production
process. This is the main change over which we have come into
agreement," the deputy minister said.

The package also clarifies in which organizations tax representative
may be appointed: only four cases have been established.