Armenia's leading business associations have criticized the International Monetary Fund for opposing tax breaks for manufactures that were promised by President Serzh Sarkisian earlier this month.
Meeting with members of those associations on April 8, Sarkisian said his government is ready to exempt companies producing “something that is not manufactured in the republic” from profit tax for three or four years. He said the Armenian government could also defer the collection of value-added tax from them in order to spur job creation.
The IMF’s resident representative to Armenia, Guillermo Tolosa, spoke out against such a measure on April 15. He said the IMF is generally opposed to tax privileges and thinks that they would have a negative impact on the already problematic tax collection in the country.
Armenian News
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