Author: Hovik Karapetian

 15:24,

YEREVAN, NOVEMBER 11, ARMENPRESS. According to proposed legislative amendments, non-resident companies providing electronic services in Armenia must pay a value added tax starting from January 1, 2022, a senior tax official said at a press conference in Armenpress.

Lusine Ayvazyan, head of the department of management of information systems changes and impact assessment at the State Revenue Committee, said that works are already underway with the major international companies which provide electronic services in Armenia.

“We have held discussions with the representatives of Google, Facebook, Booking, Amazon, Netflix and other companies. I would like to inform that there hasn’t been any objection by any of these companies regarding paying a tax. All have expressed readiness to be registered. During the discussions a question was raised connected with making the system simple and more convenient. I also want to inform that a question was raised to set a reporting period for VAT calculation every three months”, Lusine Ayvazyan said.

These new amendments would contribute to the increase of the state budget funds, however, it’s still unclear how much money will enter the budget within a year.

Head of the department N1 of tax and mandatory fees methodology Asaneth Aloyan said that no regulations are envisaged for electronic trade by this draft.

The proposed legislative amendments also have a component for those resident companies in Armenia which provide electronic services.

She informed that there will be better taxation regulations for some electronic services. According to the current regulations, these services are taxed at a 20% VAT rate, but the expected changes propose applying 0% VAT rate. “For instance, I can state that a company based in Armenia, which provides online educational service abroad, in other words, the one who gets its service is non-resident, it may not be taxed”, she added.

As for the physical entities who provide electronic services in Armenia, the SRC representative said that there is no tax obligation for them.

 

Editing and Translating by Aneta Harutyunyan

 14:04, 9 November, 2021

YEREVAN, NOVEMBER 9, ARMENPRESS. The financial-credit and budgetary affairs committee of parliament approved the draft government budget for 2022 presented by the Pashinyan Administration.

“The 2022 state budget draft was entirely formed based on the clear priorities pertaining to economic and social sectors envisaged under the 2021-2026 government action plan,” finance minister Tigran Khachatryan said at the meeting of the committee.

The circle of the state budget focuses especially on security matters, the education system, as well as development of high-quality infrastructures.

The draft budget projects 7% real growth of GDP.

Editing and Translating by Stepan Kocharyan

 19:21, 7 November, 2021

YEREVAN, NOVEMBER 7, ARMENPRESS. Prime Minister Nikol Pashinyan presented Armenia’s stance over the possible 3+3 format of regional cooperation.

“Our stance is the following, that the possible 3+3 format shouldn’t have the kind of items on its agenda which we are already discussing alongside in other formats,” PM Pashinyan said in an interview with Public Television’s Petros Ghazaryan.

Editing and Translating by Stepan Kocharyan

 10:15, 3 November, 2021

YEREVAN, NOVEMBER 3, ARMENPRESS. Minister of Justice Karen Andreasyan had a meeting with the new Country Manager of the World Bank for Armenia Carolin Geginat, during which he presented the agenda of the ministry’s reforms, the ministry said in a news release.

The agenda is directed to anti-corruption and constitutional reforms, improvement of freedom of speech, etc.

The minister congratulated Carolin Geginat on appointment, by highly valuing the World Bank’s constant support provided for Armenia’s reforms, in particular in the fields of justice and police.

The meeting sides discussed also other issues of mutual interest and agreed to develop the existing productive partnership.

 

Editing and Translating by Aneta Harutyunyan

 17:31, 3 November, 2021

YEREVAN, NOVEMBER 3, ARMENPRESS. Representatives of different spheres from Armenia and abroad will be involved in the Board of Directors of FlyOne Armenia, which has received an air operator certificate in Armenia.

In response to the inquiry of ARMENPRESS, the company's board confirmed the news that the company has decided to introduce a corporate governance system.

The board of the company informed that in the near future the composition of the newly formed board, as well as the name of the head of the board will be announced. Regarding of the Head of the Board of Directors, the choice of the company has rested on the candidate representing Armenia.

On 27 October 2021, the Civil Aviation Authority of Armenia offered FlyOne Armenia the National Air Operator Certificate, which confirms that FlyOne Armenia will launch flights from Armenia very soon.

By now, FlyOne Armenia has invested more than 60 million Euro in the Armenian market, which contributes to the growth of the country's economy.

 20:24, 1 November, 2021

YEREVAN, NOVEMBER 1, ARMENPRESS. Foreign Minister of Armenia Ararat Mirzoyan held a phone conversation with Russian FM Sergey Lavrov, ARMENPRESS was informed from the official website of the MFA Armenia.

The Ministers discussed issues related to the implementation of the agreements reached by the leaders of Armenia, Azerbaijan, Russia on November 9, 2020 and January 11, 2021, taking into account that soon it will be a year since the signing of the November trilateral document on full ceasefire. Special attention was paid to the solution of urgent humanitarian issues – return of detainees, provision of maps of minefields, preservation of cultural and religious heritage.

The two FMs exchanged approaches on easing tensions on the Armenian-Azerbaijani border, unblocking all transport and economic ties in the South Caucasus, and creating a favorable atmosphere for regional cooperation.

The importance of continuing the efforts aimed at the political-diplomatic settlement of the border incidents between Armenia and Azerbaijan was emphasized. The sides touched upon the current aspects of the Armenian-Russian cooperation, taking into account the forthcoming bilateral contacts at different levels. The Foreign Ministers of the two countries noted the progressive development of the allied cooperation. They also discussed various international and regional issues.