On 25th of November, 2016 European Business Association initiated a round table discussion on the main topics in the new tax code that are related to businesses as well as updates on the current and future improvements in the customs regulations. More than 50 German, French, British, Italian, Swedish, Swiss, Armenian and other business representatives attended the round table/discussion.
Head of Administration Methodology, Procedures and Service Department Mr. Arman Poghosyan presented main topics in the tax code that are relevant to local companies and foreign investors. He also provided clarifications to those issues that were critical for foreign investors, particularly on the 5% for locals and 10% for foreigners on regard to dividends and mentioned that if there is intergovernmental agreements between countries then the interest rate will be the same both for locals and foreigners without any discrimination.
USAID TRP tax expert Ms. Anzhela Mesropyan presented the chapter of the new tax code on transfer pricing.
Head of Customs Supervision Department Mr. Gevorg Saghoyan presented current and upcoming activities on improvements, updates of customs clearance procedures, Eurasian Economic Union issues and transit procedures.
Program Manager of OSCE Matthias Lichtenberger mentioned importance of such kind awareness events for the further business activities facilitation.
Executive Director of EBA Ms. Diana Sarumova expressed her gratitude for the active cooperation to the State Revenue Committee and emphasized the importance of public-private dialogs for the further development of business environment and drawing investments.
Business representatives pointed that this awareness campaign is very important in the scope of new legislative changes. It is very useful to know in advance what is being changed and how to interpret each change. They had lots of questions during the Q/A sessions and requested to organize more discussions on the new tax code awareness activities in the upcoming year.
Nevertheless the tax code has been approved there is still opportunity to work on its improvement in the future.
More details and presentations are coming soon.