At the NA Standing Committee on Economic Affairs, the Chairman of the RA State Revenue Committee Rustam Badasyan presented for debate the draft law on Making Amendments and Addenda to the RA Tax Code. Its main goal is the specification of the definition for the notion Electronic Service by the RA Tax Code, the definition of the rules of the electronic service rendering the venue decision, as well as the forecast of the value added tax (VAT) accounting and paying regulations on the electronic services providing to the individual entrepreneur or not considering a notary, the physical entity by non-resident organization.
The RA Deputy Minister of Economy Varos Simonyan presented the draft law on Amending the RA Tax Code to the Committee members. The adoption of the bill is conditioned by the necessity of mitigating the financial burden of the companies in case of necessary goods’ import for receiving final product in the sphere of production, as well as processing industry by the entities. The VAT levying on the customs border is designed to eliminate. An attempt is made to regulate the legal relations emerging during the import of equipment, raw material and materials.
The rapporteurs answered to the MPs’ questions. As a result of debates, the bills were endorsed.