ENDOWMENT LAW DISCUSSED IN YEREVAN

PanARMENIAN.Net
19.10.2009 12:42 GMT+04:00

/PanARMENIAN.Net/ RA Endowment Law was discussed in Yerevan on
October 19.

As stockholder of Grant Thornton Amyot LLC Gurgen Hakobyan told
PanARMENIAN.Net, the company developed the bill by order of Eurasia
Partnership Foundation.

"It aims at creation of legislative base for non-governmental
organizations to form and use targeted capital," he said. "The law will
help Armenian NGOs be more self-sufficient. An important provision in
this bill is that the income the NGOs will get from the capital will
be tax-free. The cash assets will work through investment companies
(pension fund, banks) and the NGOs will get dividends."

For her part, Eurasia Partnership Foundation Programs Manager Marina
Mkhitaryan said that the experience of Czech Republic and Germany in
introduction of corporate social management was used for development
of the bill, which will help efficient spending of funds.