The regular session of the Small and Medium Enterprise Development Council took place in the Government under the presidency of Prime-Minister Hovik Abrahamyan. The results of the discussions between the representatives of the Ministry of Finance and the SMEswere presented at the session.
Specifically it was reported that it is planned to reduce the turnover tax rate for the subjects implementing activities in the trading sphere from 3.5 percents to 1 percent starting October 1 of the fiscal year. According to Vakhtang Mirumyan, deputy Minister of Finance as a result the turnover tax will be considerably relieved for around 39.500 subjects, though the state revenues will be reduced by 8 billon AMD.
The complete article in Armenian language is available here.
