VAT TO BE IMPOSED ON ARMENIAN FARM ENTERPRISES
Noyan Tapan
Feb 16, 2009
YEREVAN, February 16. /ARKA/. The imposition of the value-added tax
(VAT) on farm products this year will involve 200 to 500 enterprises,
Armen Alaverdyan, Vice-Chief of the RA Public Revenues Committee,
told reporters.
Among the prospective VAT payers are large fish, poultry and livestock
farms, as well as large farm enterprises.
"To form a full picture, we started monitoring all the agricultural
organizations of Armenia this January, which will allow us to make
realistic appraisals and carry out work with individual producers,’
Alaverdyan said.
He said that the first results will be available in the first
quarter of this year. Since the industry is seasonally dependent,
the monitoring will last during the whole year, and clearer results
will be available this autumn.
One of Armenia’s commitments to the World Trade Organization is
imposing VAT on farm products from January 2009. To meet farmers’
interest, the Government set the minimum rate for taxation, 58.35bln
AMD of the sales.
According to some estimates, 10 to 20 per cent of the Armenian
agricultural enterprises are to pay VAT from this year.