SMEs in Yerevan to be exempt from local duty increases, vows Mayor

SMEs in Yerevan to be exempt from local duty increases, vows Mayor

12:22,

YEREVAN, DECEMBER 25, ARMENPRESS. SMEs with up to 58,3 million drams in annual turnover will be exempt from the tax increased that are part of a Yerevan City Council bill on 2019 local duty rates, Mayor Hayk Marutyan said at a sitting today.

He added that the City Council will convene a special sitting sometime mid January for additional discussions over the matter. “You know very well that several duties under this draft are being increased in Yerevan, but because our policy is to support small and medium businesses, I am recommending to hold a session and define exceptions,” he said.

The Mayor said the decision will come into force January 1, thus urged operators not to worry.

Changes include a 6000 dram increase in the license duty for construction of up to 20 sq.m. buildings, and a 10,000 dram increase in the license duty for non-main buildings in greater space.

The license for selling liquid fuel, pressurized natural and liquefied petroleum gas for a fiscal year is increased from 350 thousand to 600 thousand drams.

Local duties for entertainment facilities operating after midnight have also changed, among others.

Edited and translated by Stepan Kocharyan