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A number of legislative initiatives were debated and endorsed at the sitting of the NA Standing Committee on Economic Affairs in the second reading on April 5.

The draft law on Making Addenda and Amendments to the law on Approving the List of Products Imported by Organizations and Individual Entrepreneurs Not Subject to Excise Tax, whose Import is Exempt from Value Added Tax (VAT) proposes to make an amendment.

The necessity of adopting the draft is conditioned by the need to create favorable conditions for the import of the necessary raw materials and products imported by economic entities for production.

The RA Deputy Minister of Economy Rafael Gevorgyan noted that the draft was revised after the first reading. The substantive and editorial proposals presented by the Government were adopted. Three new codes have been added to the draft.

The draft law on Making Amendments and Addenda to the Law on Urban Development proposes to revise and complete the competence of the Government in the field of urban development as much as possible, to clarify the procedures and regulations for the development, formation and approval of urban development documents for special regulation facilities, to define additional requirements in the current procedure for the implementation of urban development activity in separate objects.

According to the Deputy Chairman of the RA Urban Development Committee Davit Grigoryan, a number of proposals of the NA Expertise and Analytical Department were debated and adopted after the first reading.

The purpose of the package of drafts on Making Amendments and Addenda to the Law on State Registration of Rights to the Property and on Making Addenda to the RA Tax Code is to promote the growth of the volume of electronic proceedings, to supplement the required information in the field of cartography, geodesy, sizing and land construction activities, to eliminate the uncertainty of the status of individual residential houses with 50% and more degree of completion, their auxiliary and economic buildings.

The Head of the RA Cadastre Committee Suren Tovmasyan mentioned that editorial changes were made after the first reading.

At the end of the sitting, the Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan informed that several pharmaceutical companies have submitted a petition to the National Assembly. He urged his colleagues to get acquainted with the text and prepare for its debate in the near future.