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On November 28, the Chair of the RA NA Standing Committee on Economic Affairs Babken Tunyan and the members of the Committee met with the representatives of the Union of Banks of Armenia.

Issues related to the annual state duty to be paid by banking and financial organizations were discussed.

Babken Tunyan noted that as a result of the tax reforms implemented in July, certain changes were made in the state duties for banks and other financial organizations. According to the Committee Chair, as a result of the amendments, the amount of state duty for the branches of banks has also significantly increased, on which the Union of Banks of Armenia has presented its position and proposals.

The Executive Director of the Union of Banks of Armenia Seyran Sargsyan noted that the law on State Duty was calculated on the basis of the number of branches of banks. The Union emphasizes the equal distribution of the state duty burden and proposes to increase the state duty for the head offices of banks, but reducing it for the branches. It is also proposed to reduce the amount of state duty for branches located in the border regions and to make it zero for the representations.

The Committee Chair Babken Tunyan proposed to continue the discussions and to work out an acceptable solution for the issue.