News - Armenia wants to reduce tax burden difference in the country

The difference in tax burden in Armenia should be reduced. Deputy Finance Minister Arman Poghosyan said this during the debates on the package of bills on amendments and additions to the Tax Code and additions to related laws at Friday’s meeting of the Standing Committee on Economic Affairs of the National Assembly of Armenia. In particular, according to Poghosyan, this refers to the general tax system and the turnover tax system of Armenia. "So, based on the documented costs, it is necessary to establish a single approach to reducing the tax rate [in Armenia]. It is also necessary to increase the level of documentation of transactions in various tax systems, as well as to limit the taxation of certain types of activities. In particular, turnover tax or micro-entrepreneurship in preferential tax systems [of Armenia]," said Poghosyan. The representative of the Armenian government noted that at present, about 55 thousand entrepreneurs pay turnover tax in the country. According to him, the aforesaid package of bills offers solutions that will facilitate the transition from the turnover tax system to the general taxation system in Armenia. This package of bills was approved by the aforementioned standing committee of the parliament.