Yerevan /Mediamax/. Armenian government approved the package of changes into the tax legislation of the country today.

As the First Deputy Head of the State Revenues Committee of Armenia Armen Alaverdyan stated today, the government has to operatively approve certain measures on toughening tax administration concerning very big business.

According to him, from now on in all enterprises, the annual turnover of which exceeds 4bln AMD, and the number of employees – 500 people, a representative of tax bodies will be present. He expressed confidence that the new institution will increase the level of tax control and will lead to reduction of shadow economy.

Armen Alaverdyan stated that the legislation changes provide for establishment of excise warehouses for entrepreneurs, who deal with production and import of excisable goods (spirits, cigarettes, etc.), which will allow tax bodies realizing more thorough control over each deal.

Another change concerns facilitating tax administration of representatives of small and medium enterprises. Thus, the government offers to interrupt for two years the effect of the fine at the volume of 20% for absence of the corresponding documentation (invoice) on expenses realized.

According to other changes, the representatives of small and medium enterprise have the opportunity to transfer income tax at the volume of 10% of the production cost instead of the supplier to the state budget and present the given sum as their own expenses. Armen Alaverdyan stated that the given measures are meant to prevent the crisis, and are directed to ease the tax burden for representatives of small and medium enterprise.

According to him, in the nearest future the package of legislative changes will be submitted to the consideration of the Armenian parliament.