Businesses in Armenia will soon become more transparent for the government in terms of their tax liabilities after a decision has been made to introduce new types of cash registers.
At the Thursday meeting of the Cabinet a change was made in one of the government's previous decisions, according to which additional technical requirements have been set for the machines that register the monthly value-added tax amounts first introduced in 2008. These new parameters, the government said, will be in keeping with the modern technical requirements for cash registers.
Thus, by 2015 when the re-equipment program is due to be completed, about 60,000 economic entities, mainly small and medium-sized businesses, will have had to purchase and install new cash registers, a set of which will cost 180,000 drams (about $440).
Armenian News
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