Armenia’s Tax Legislation Needs Simplifying Says Businessman

YEREVAN (Noyan Tapan)–The Union of Manufacturers and Businessmen of Armenia has devised a concept of changing the tax and customs legislation to facilitate entrepreneurship and lower barriers as far as possible–UMBA Chairman Aram Vardanian said at a press conference on September 28.

According to Vardanian–if simplified–the current tax legislation will annually add an additional $10,000 to the state budget as revenues from 30,000 businesses. In the given economic situation–Vardanian stressed the importance of tax concessions to enterprises.

The UMBA Chairman also stressed that they had offered the National Assembly to become an advisory body of the parliament–as "there is no devising the rules of the game unilaterally."

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