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The aim of the draft law on Making Amendment and Addendum to the RA Tax Code is the formation of the favourable tax environment for filtering the gold concentrate and the alloy in the Republic of Armenia: the RA Deputy Minister of Finance Arman Poghosyan said, presenting the legislative initiative of the Government at March 15 sitting of the NA Standing Committee on Economic Affairs.

As the RA Deputy Minister of Finance assured, as a result of the draft adoption, it is expected to form such a tax environment for the local companies being engaged with gold filter, in case of which, equal conditions for the activity between them and the companies engaged with gold filter abroad. The formation of longer value chain of gold production will be encouraged in this way.

“Our main goal is not to overload the mentioned product with Value Added Tax (VAT) and to create equal conditions in our country and for those being engaged with gold concentrate filter,” Arman Poghosyan said.

Answering to the question of the Committee member Tadevos Avetisyan on the export of gold ingot from the RA to Turkey, the RA Minister of Economy Vahan Kerobyan documented that the Turkish market is closed for the Armenian goods. The general commodity turnover is 320 million USD, which is only the import to our country. According to Vahan Kerobyan, the opening of the Armenian-Turkish border will give wide opportunity for organizing the export of Armenian goods.

As a result of debate, the draft law was endorsed.