ARMENIAN GOVERNMENT DISMISSES LUXURY TAX BILL PRESENTED BY INDEPENDENT MP VIKTOR DALLAKYAN

ArmInfo
2010-04-15 16:56:00

ArmInfo. During its meeting today the Government of Armenia dismissed
the luxury tax bill presented by independent MP Viktor Dallakyan.

Prime Minister of Armenia Tigran Sargsyan said that he is concerned
over the question raised by Dallakyan. "Since we have the unsolved
problem of poverty and social polarization, it is clear that people
earning big money should pay more taxes," the Premier said. However,
he was not satisfied with the mechanisms proposed by Dallakyan. He said
that the Government, jointly with the Ministry of Finance and based
on the international experience, should find effective mechanisms for
the tax authorities. "From technical point of view this document does
not meet our requirements," Sargsyan said.

Dallakyan’s bill qualifies as "luxury" large land plots, large
apartments and mansions, expensive cars, helicopters, planes, yachts,
big sums of money, securities, foreign exchange and culturally valuable
artworks. The bill says that the tax should be paid by both residents
and non-residents living in Armenia – both physical and legal entities.