EBRD’s Business Support Office and NGOs met to discuss sustainable support for the local entrepreneurs.

On May 24th the EBRD Business Support Office held a roundtable discussion with non-governmental structures that represent the interests of the Private Sector in Armenia. The main topic of the discussion was the importance of improving cooperation with an aim to support the local SMEs. Among the participants were the executives and representatives of the National Centre for SME Development, the Business Advocacy Network, the Chamber of Commerce and Industry of Yerevan, Taxpayers Rights Protection NGO, as well as other ...

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Оn decreasing the amount of patent fee set for real estate companies

Since January 1 2013 the taxation mechanism for companies providing realtor services has changed and instead of paying profit tax the companies have to acquire a patent (license) for each employee equivalent to 60.000 AMD per month, which has substantially increased the payable taxes for those companies. The vast majority of the 120 registered real estate companies in RA are classified as SMEs that is why this decision was a considerable burden for them.

After holding a number of consultations and ...

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Inspection Reform Takes Effect

A Cabinet sitting was held 02.05.2013, chaired by Prime Minister Tigran Sargsyan. During the sitting the Prime Minister highlighted the fact that the number of planned inspections has been reduced eightfold over the five-years: “This is an important achievement from the perspective of inspection reform. Despite a sharp fall in checks and inspections, we can see that the risk-based oversight is justified as it has led to increased effectiveness. Targeted checks are carried out in the most at-risk areas and ...

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