Yerevan /Mediamax/. First Deputy Head of the State Tax Service of Armenia Aharon Chilingaryan presented## at a special session of the parliament today a package of draft laws on improving tax administration of small en medium enterprise (SME).

Mediamax reports that Aharon Chilingaryan informed that changes in the laws “On VAT “, “On taxes”, “On income tax”, “On profit tax”, “On obligatory social insurance payments” are also planned for.

“It is proposed to abolish the simplified tax and relieve of VAT payments the EMS subjects, the annual turnover of which does not exceed 50mln drams”, Aharon Chilingaryan stated, adding that it is proposed to collect income tax at the sum of at least 1% of the monthly turnover from economy subjects, relieved of paying VAT.

According to the proposed changes, each month VAT will be paid by companies, the annual turnover of which does not exceed 100mln drams instead of the present 60mln. “The volume of obligatory social payments for the given subjects will be reduced to 3% from the present 5-15%”, Aharon Chilingaryan stated.

According to him, the proposed package of draft laws will allow elaborating simple standards for SME and relieve them from complex accounting procedures.