Real SME formation and development of family business are in Government’s agenda

YEREVAN, JUNE 16, ARMENPRESS. The Government of the Republic of Armenia tries to form a real small and medium entrepreneurship in Armenia, to reduce the shadow economy, to contribute to the development of family business and the strengthening of an atmosphere of mutual trust. The Deputy Finance Minister of the Republic of Armenia Armen Alaverdyan on June 16 introduced the results expected from the appliance of the projects package of laws about “Turnover tax” as well as amendments and additions in other six laws. The Department of Mass Media and Public Relations of the Finance Ministry of the Republic of Armenia informed Armenpress that the Deputy Finance Minister stated that the Government came to an agreement with public organizations representing SME in a series of axial issues in particular, 58.35 million AMD maximum threshold of turnover will be preserved for SME in 2015 and 2016, tax rate of turnover will be reduced to 1 percent from 3.5 percent.

“The main weapon of our activity, as well as the target of the work with social organizations will be the regulation of the field and the establishment of real SMEs. The signals received from them will allow directing the administration shunt to big business,” Armen Alaverdyan noted.