The Armenian government announced on Thursday a major simplification of its taxation procedures for small businesses, which Prime Minister Tigran Sarkisian said will further improve the country's investment climate.
The government approved a package of fresh amendments to Armenian tax legislation that were drafted by the Ministry of Finance.
"This package contains numerous provisions awaited by business," Sarkisian said during the cabinet meeting. "Some of them have been quite long-awaited."
The premier singled out provisions relating to small firms with annual turnovers of up to 58.3 million drams ($144,000). One of the proposed amendments would reduce from 16 to 4 the number of financial reports they have submit to the tax authorities each year.
Armenian News
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