The first meeting of the Small and Medium Entrepreneurship Development Sub-Council took place on 20th of Decembember.

The first meeting of the Small and Medium Entrepreneurship Development Sub-Council took place on 20th of December.

The Acting Minister of Economic Development and Investments Tigran Khachatryan, welcoming the members of the sub-council, proposed to discuss some issues related to the effectiveness of the council and its sub-council activities.

Deputy Minister Hakob Avagyan and Head of the Business Support Office Gevorg Poghosyan summed up the results of the previous sessions of the SME Development Council, record the points to be implemented.

Subsequently, the ...

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Tax regimes for startups and SMEs: BSO seminar in Gyumri

On October 20th the Head of Business Support Office Gevorg Poghosyan presented a seminar in Gyumri Technology Center, entitled Tax regimes for startups and SMEs. Start-up businesses, even active students interested in business establishment got acquainted with the basic steps of business establishment and the prerequisites for its development in Armenia. Gevorg Poghosyan also introduced among the existing possibilities the refprms- tax regimes enacted with the assistance of BSO experts nd their collaboration with the Armenian Government.  There was a disussion ...

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Regular meeting of Social Council of Revenue Administration Reforms took place

Revenue Administration Reforms Council meeting  took place under the chairmanship of SRC Chairman Vardan Harutyunyan. The procedure of accessing the Automated Manifest System for individuals not qualified as customs clearance specialists was discussed and evaluated by the committee chairman as being an innovative  approach: “Citizens engaging in business are offered an opportunity to fill in the customs declaration themselves.” Another issue on the agenda covered a number of draft government decisions providing for the application of Tax Code ...

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The BSO as a part of another PPD platform: Social Council of Revenue Administration Reforms kicked off

The Head of BSO Gevorg Poghosyan took part in the first meeting of the Social Council of Revenue Administration Reforms. The Council shall operate under the chairmanship of SRC Chairman Vardan Harutyunyan. It aims to establish effective dialogue between the government and business community. The chairman highlighted the importance of the council’s active participation in the process of reforms: “We shall act transparent, and each impetus received from the public will become an object of discussion.” According to Harutyunyan, ...
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SME Development Council Meeting took place at the Government

Prime Minister Hovik Abrahamyan chaired a regular meeting of the Small and Medium Enterprise Development Council. Proceeding to the agenda, the Council first discussed the performance of the assignments given at the previous meeting. In particular, discussed were the steps taken to enable Bed and Breakfast small businesses benefit from the privileges of family business regime. It was reported that since January 1 several private entrepreneurs engaged in B&B business have benefit from this privileges.

Coming to the proposal for establishing differentiated rates ...

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Turnover tax changes discussed at SME Development Council meeting today

The twelfth SME Development Council meeting took place today, chaired by the Prime- Minister Hovik Abrahamyan.

The Council Secretariat introduced 2014 report on the implemented activities, which was appoved by the Prime-Minister.

In regard of the issue of the necessity of making changes in the Turnover tax and in particular regarding the provision of obligatory documenting of purchses, Hovik Abrahamyan proposed to discuss the recommendations of businesses, suggesting voluntary application of the law, increase of the maximum threshold ...

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“Family business” classification and exemption from taxes

Teamwork and corporate profit Nowadays many families make living by means of family businesses (retail trade, small productions, services), which in comparison with classical business provides exceptionally the primary / essential requirements of those families.

“Family business” is the kind of business type which is conducted exclusively by family members. The BSO experts have carried out researches, as a result of ...

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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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