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The purpose of the draft law revision is to clarify the issues of accounting tax obligations and debit amounts in the taxpayers’ personal account cards, to define the appropriate legal regulations for the introduction of a new methodology for the repayment sequence of obligations and debits in personal account cards, providing additional flexibility for entrepreneurs. The Deputy Chairman of the RA State Revenue Committee Artur Manukyan said this.

The draft law on Amendments and Addenda to the RA Tax Code authored by the Government was debated at the sitting of the Standing Committee on Economic Affairs in the second reading on February 22.

In particular, the draft proposes to introduce new mechanisms for managing personal account cards. The payment deadline norm for repayment of obligations was also defined, the procedure for returning debits was revised.

According to Artur Manukyan, during the period from the first to the second reading, the proposals introduced by the National Assembly experts were studied, the Government also proposed amendment proposals of technical nature to improve the draft, which were accepted.

The revised draft has been endorsed.

The Committee debated and endorsed the package of bills envisaging amendments to the laws on Industrial Policy and on Chambers of Commerce and Industry authored by the Government in the second reading.

According to the RA Minister of Economy Vahan Kerobyan, the initiative stipulates that the entry of goods into the EAEU industrial goods register takes place on the basis of the certificate of origin issued by the Chamber of Commerce and Industry and the process of actual entry into that register by the Ministry of Economy.

“It makes it possible for the products in the register to participate in the state procurement processes of the member states of the Eurasian Economic Union. At the moment, we have 5 named products that are entered in the register of industrial products,” the Minister underscored.

Highlighting the development of the industry, the rapporteur stated that the economic growth in the manufacturing industry in 2022 was 11.9 percent.

The debate of the bill on approving the list of goods imported by organizations and individual entrepreneurs not subject to excise tax, the import of which is exempted from added tax value has been postponed for up to two months.