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At April 7 sitting of the NA Standing Committee on Economic Affairs, the RA Deputy Minister of Finance Arman Poghosyan presented in the first reading the bill on Making Amendments and Addenda to the RA Law on Providing Tax and Customs Privileges in the frameworks of Dilijan International School Program.
The existing law does not clearly regulate the relations with the organizations implementing the program which have no relation to the deals for which the tax privileges set out by law have been previously applied. The aim of the bill is to solve the problems that emerged during the application of the Law on Tax and Customs Privileges in the frameworks of Dilijan International School Program and to eliminate the further implementation of obstructive conditions.
The Deputy Minister also presented the draft law on Making Amendments and Addenda to the RA Law on Tax Code, and as a result of its adoption the tax environment for agricultural and consumer cooperatives will be significantly improved. Prerequisites will be provided for the creation and development of the latter.
According to the draft law, for profit tax purposes, agricultural and consumer cooperatives are considered producers of agricultural products, and they are exempted from the profit tax until 31 December 2024 in terms of income from the sale of an agricultural product made by their members (participants).
The RA Deputy Minister of Economy Avag Avanesyan presented in the first reading the package of draft laws on Making Amendments and Addenda to the law on State-Private Partnership and the enclosed laws.
The Government’s programme highlighted the opportunity of including the foreign investments in infrastructure programs in the framework of state-private partnership. In order to achieve the mentioned result, it has been considered expedient to develop a united circle of legally regulating norms referred to state-private partnership. It will play a significant role for increasing the activity in private partners, including the foreign investment programs, for strengthening trust and effectively dividing mutual obligations and risks.
All debated draft laws were endorsed.
The existing law does not clearly regulate the relations with the organizations implementing the program which have no relation to the deals for which the tax privileges set out by law have been previously applied. The aim of the bill is to solve the problems that emerged during the application of the Law on Tax and Customs Privileges in the frameworks of Dilijan International School Program and to eliminate the further implementation of obstructive conditions.
The Deputy Minister also presented the draft law on Making Amendments and Addenda to the RA Law on Tax Code, and as a result of its adoption the tax environment for agricultural and consumer cooperatives will be significantly improved. Prerequisites will be provided for the creation and development of the latter.
According to the draft law, for profit tax purposes, agricultural and consumer cooperatives are considered producers of agricultural products, and they are exempted from the profit tax until 31 December 2024 in terms of income from the sale of an agricultural product made by their members (participants).
The RA Deputy Minister of Economy Avag Avanesyan presented in the first reading the package of draft laws on Making Amendments and Addenda to the law on State-Private Partnership and the enclosed laws.
The Government’s programme highlighted the opportunity of including the foreign investments in infrastructure programs in the framework of state-private partnership. In order to achieve the mentioned result, it has been considered expedient to develop a united circle of legally regulating norms referred to state-private partnership. It will play a significant role for increasing the activity in private partners, including the foreign investment programs, for strengthening trust and effectively dividing mutual obligations and risks.
All debated draft laws were endorsed.
