Turnover tax reduction to boost SME development – Vazgen Safaryan
The Armenian government’s decision to reduce turnover tax from 3.5% to 1% from October 1, 2014 is a positive move, the head of the Union of Native Producers of Armenia has said.
Vazgen Safaryan told reporters that the reduction of turnover tax paid by trading companies will boost development of small and medium-sized entrepreneurship in Armenia.
He also said that 30,000 small and medium-sized enterprises operate in Armenia and the government’s decision will contribute to the development of small and medium-sized business in the country’s border villages.