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At May 4 NA sitting, the draft law envisaging amendments to RA Tax Code authored by the Government was debated in the first reading.

According to the key rapporteur, the Chairman of the RA State Revenue Committee Edvard Hovhannisyan, the executive proposes to return the sums being compensated by the value added tax (VAT) according to the results of every financial month. According to the regulations, those sums are returned by the results of every quarter at the united account on 21 of the next month of the quarter.

“As a result of amendments, the taxpayers will not wait for the end of the quarter for the return of the relevant sums, instead they will get back month by month,” Hovhannisyan noted.

Gevorg Papoyan presented the endorsement of the NA Standing Committee on Economic Affairs. Welcoming the initiative, he has noted that it is aimed at the improvement of the business environment. “I hope that one day, the value added tax will not be levied anymore on the border,” the MP concluded.