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At October 5 sitting, the RA National Assembly in the first reading debated the draft law on Amending the RA Tax Code, which presented the RA Deputy Ministry of Economy Varos Simonyan.

The Article 79 of the Tax Code gives an opportunity to get tax privilege in case of implementing investment programme of the organizations and individual entrepreneurs with limited quantity (by the decision of the RA Government), extending the levying of the VAT for three years. The enterprises, which do not have investment programmes that are not approved, but the same raw material and substances import for producing the same product. After adopting the law Approval of List of Goods Imported by Organization and Private Entrepreneurs, That Have '0' Customs Duty Rate And Are Not Subject to Excise Taxation And For Which Value Added Tax Shall Not Be Calculated And Collected by Customs Authorities the Article 79 of the Code became out of date. It will not be necessary to apply to the RA Government organizations carrying out an investment programme for the privilege, as a result, the administration will decrease. The organizations, which do not implement an investment programme, but import the same raw material and substances for producing the same product, will lighten the financial burden, as they will not pay the VAT on the customs border. The executive body proposes to recognize invalid the abovementioned Article.

The Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan presented the endorsement of the Committee on the issue under debate.

At the last sitting of the day the deputies made statement.

The National Assembly will continue the work of the regular sittings on October 6.