Armenia’s government to earmark more than AMD 43 billion this year for VAT return to exporters

YEREVAN, December 4. /ARKA/. Armenia’s government said Thursday at its regular session that it will allocate more than AMD 43 billion this year for returning the value added taxes to exporters, said Gagik Khachatryan, the finance minister.   

It was initially expected that AMD 28.7 billion will be spent in 2015 for returning VAT, but now it is clear that the amount is larger. 

Khachatryan said that the government has already paid AMD 33.366 billion to exporters and is going to return another 10 billion to them before the end of this year.  

In 2014, the government returned AMD 38 billion to exporters. 

«I think this is a serious matter for exporters, especially in a period of difficulties in the economy,» he said. «Despite the fact that the key VAT return area is mining industry, from where the flow of additional tax receipts has dwindled because of decrease in prices for metals and we expect no extra taxes, we still find it important to return value added taxes to companies to ensure their financial resources and to spur the economy.» ($1 – AMD 483.71). ---0-----