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At the sitting convened on March 16 chaired by Vahe Hakobyan, the RA NA Standing Committee on Economic Affairs debated in the first reading the draft law on Amending the Law on State Duty authored by the Government. According to the draft law, the proposed amendment is aimed at simplifying the customs clearance process, as well as reducing required costs.

The RA Minister of Economy Vahan Kerobyan has noted that the draft law envisages to enable the economic entities not to pay customs payments for goods exported from the RA from one carrier to one recipient with one transport document, the total customs value of which does not exceed 1mln AMD.

It was also noted that the proposed amendment is aimed at improving the competitive environment, in particular, within the framework of the above-mentioned legal regulation, in case of export of low-value goods, the entities are released from the obligation to pay state duty, which will increase the number of persons related to supply services in the mentioned markets. As a result of the adoption and implementation of the draft law, the positive impact on the business and investment environment is envisaged, taking into account the fact that the regulations will facilitate the customs clearance process, as well as reduce the financial and administrative expanses of small and medium-sized entrepreneurships.

With the adoption of the legislative initiative, the state budget revenues will be decreased by an average in the amount of 106.35mln AMD.

As a result of debate, the Committee members endorsed the draft law.