At April 9 sitting of the NA Standing Committee on Economic Affairs, the issue on organizing 24-hour regime for the first to second reading of the draft law on Making Amendments and Addenda to the RA Law on Providing Tax and Customs Privileges in the frameworks of Dilijan International School Program moderated by Babken Tunyan was debated.

The Committee Chair Babken Tunyan informed that, the leadership of Dilijan International School addressed a letter to the National Assembly and the Government. There is a concern that the problems will be repeated in case of non-adoption of the law until April 20. “We have come to that conclusion that the concerns are justified,” Tunyan noted.

The RA Deputy Minister of Finance Arman Poghosyan reminded that in order to be able to use the profit tax exemption privileges, the organizations implementing Dilijan International School Program must invest the net profit in the framework of the program as a reinvestment until April 15 of the following year of the financial year.

“As long as the company has no profit, it cannot invest any money in the framework of the program as a reinvestment, consequently the prerequisite of application of the privilege will not be ensured. While it is an unfair situation – due to the methodological differences between financial and tax accounting.

According to the draft law, the incomes related to the program for profit tax purposes will not be considered as an income. The costs for tax profit purposes will not be considered as expenditure.

The Committee endorsed the issue.