YEREVAN, SEPTEMBER 17, ARMENPRESS. Implementation of law on privileges granted for income taxes and family business in bordering communities has satisfies 66% and 58% of Small and Medium Enterprises respectively. The results were recorded after comprehensive research done in the sphere of SMEs by the Republican Union of Employers of Armenia with the assistance of Friedrich Ebert Foundation. 107 microenterprises and SMEs were analyzed, 50.4% of which were located in provinces, and 49.6% in Yerevan.

“Armenpress” reports that introducing the results of the research to the journalists, the President of the Republican Union of Employers of Armenia, Gagik Makaryan, said that 61% of the respondents find no specific, unambiguous wording included in tax laws and frequent change of laws are an obstacle for dynamic business development.

According to Gagik Makaryan, despite the reforms made by the Government during 2014-2015, the taxes are still considered high for SMEs. Small realization market arises problems for nearly 40%.

Out of 107 respondents 38.5% insist that corruption and bureaucracy are the main obstacles for business.

The law on decreasing income tax for exports worth 50 billion drams and more and on turnover tax is unsatisfactory for 58.9% and 61% of the enterprises respectively. 85.7% of the respondents highlight the role of SMEs in the development of our economy.

“Our organization doos a similar research in Armenia for the first time. The questions addressed to the SMEs were quite complicated. In order to secure high quality responses, we supervised the right and literate wording of the responses and avoided receiving answers via E-mail”, said Gagik Makaryan, adding that they were quite satisfied with the results.