New tax package still under consideration
The Committee of Financial-Economic and Budgetary Affairs of Public Council today held a preliminary discussion on the new tax package of the 2012 state budget.
Committee Chairman Vazgen Safaryan told A1+ that the Ministry of Economy and Finance had submitted them the draft tax package.
"Our working group will express it opinion on the package as soon as the Ministry submits us the parameters for excise tax, income tax and fixed payments," Safaryan said stressing the need for tax amendments which, according to him, should enter into forces within six months.
The Committee chairman says the package cannot be adopted in December and put into effect on January 1, since economic entities cannot resist tax pressures in that short time period.
"The greater the tax pressure, the smaller the tax field will get," says Safaryan. "Therefore, we should try to reduce tax pressure and tax administration to the minimum."
