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The new registering businesses, conditioned by the problems emerging as a consequence of legal contradictions, often have difficulties related to choosing the system preferable for them. It is proposed to regulate the problem through the elimination of the norm reserving jurisdiction of noting on the system of taxation of the tax payer being registered by the state register agency.

The draft law on Amending the law on State Accounting of the State Registration of the Legal Entities, the Separated Sub-divisions of the Legal Entities, Institutions and Individual Entrepreneurs was debated at September 7 sitting of the NA Standing Committee on Economic Affairs.

According to the Minister of Economy Vahan Kerobyan, technical uncertainty of choosing taxation system will be eliminated while registering business, as well as the time spent on the subject matter cases by the State Revenue Committee and courts.

At the same time, it is proposed to inform those registering the individual entrepreneurs or the legal entity on the restrictions of choosing the taxation systems related to interconnection for preventing the further problems.

The Committee endorsed the draft.

As Vahan Kerobyan presented, the NA Standing Committee on Economic Affairs in the first reading also debated the draft law on Making Amendments and Addenda to the law on Geographical Notes. The adoption of the draft law is conditioned by specifying some provisions referred to the control and oversight, particularly, in the RA law on geographical Notes.

It was noted that the draft is consonant with the legislation of the European Union, which was also recorded in part 1 of Article 231 of the RA-EU Comprehensive and Enhanced Partnership Agreement (CEPA).

The Committee endorsed the draft.

The draft law on Making Addendum and Amendment to the law on State Duty presented by the RA Minister of Economy Vahan Kerobyan, was debated in the first reading and endorsed. The goal of the initiative is the definition of the state duty and rate of the seed and plant material certification in the Republic of the Armenia. Accordingly, it is proposed to set 5,000 AMD state duty for the seed and plant material.