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The Standing Committee on Economic Affairs debated the addenda to the Law on Customs Regulation in the second reading. They were presented by the Chairman of the RA State Revenue Committee Rustam Badasyan.

The rapporteur reminded that the initiative proposes to organize the implementation of commercial activities in state or community-owned customs control zones on the basis of the tender established by the Government.

Rustam Badasyan underlined that amendments improving the business environment were made from the first to the second reading. “According to the current regulations, the entity must receive classification decisions before the import of goods. However, in many cases, after the import of goods, there is a necessity to make a decision on the classification of the final product,” the rapporteur noted and added that the amendment provides an opportunity to eliminate the possible obstacles for businessmen.

Article 2 of the drat has been updated.

The initiative was endorsed.

The draft law on Making Addenda and Amendments to the RA Tax Code and the attached package of bills were also debated presented by Rustam Badasyan.

Let’s remind that a number of administrative amendments are implemented by the initiative. It is planned to improve the tax administration through the video surveillance system.

According to the rapporteur, by the initiative, the duty was placed on the business entities to have a video surveillance system. However, an agreement was reached to remove that provision from the draft.

The legislative package authored by the Government was approved by the Committee.

In the second reading, the draft law on Making Addenda and Amendments to the RA Tax Code was also debated. The aim is to regulate the process of providing summary information on the movement of the taxpayers' bank accounts, as well as providing bank statements to the tax authority during tax audits and investigations, in order to integrate them into the risk management system.

The draft law on Making Amendments and Addenda to the RA Tax Code authored by the Government and the attached package of draft laws were presented. During the period from the first to the second reading, according to the key rapporteur, the Chairman of the RA State Revenue Committee Rustam Badasyan, technical amendments were made.

The Committee endorsed the draft laws debated in the second reading.