Grisha Balasanyan

Government Pushes Tax Change Package By Year's End

A special session of the Armenian National Assembly has been scheduled to debate a new package of taxes for commercial enterprises and individual proprietors in the country.

The government’s bill of tax changes was roundly criticized by many MPs. They took the government to task for introducing the bill so late in the year, arguing that if the bill is passed, taxpayers will have to adhere to the new regulations as of January 1, 2013.

MPs said such a move would provide tax authorities yet another opportunity to come down hard on uninformed taxpayers.

The package envisages changes to the profit tax, revenue tax and VAT.