Yerevan/Mediamax/. Unions of businessmen of Armenia criticized the Permanent Representative of the International Monetary Fund (IMF) in Armenia, Guillermo Tolosa, for his recent statement on tax benefits.

Mediamax reports that in an open letter to IMF representative, heads of Trade and Industrial Chamber, Union of Manufacturers and Businessmen and Union of IT Companies of Armenia expressed concern with Guillermo Tolosa’s statement made at a press conference on April 15, where he spoke of inexpediency of providing tax benefits to companies, as IMF believes “it will create additional risks for the level of tax collection, which at a low level in Armenia.”

“We welcome the efforts of the Armenian President aimed at the increase and development of production capacities, especially in the sphere of innovations. We believe that this sector will ensure restoration of Armenia’s economy in the years to come, as due to such policy high growth rates of other countries’ economies are provided,” the open letter says.

The authors say that Guillermo Tolosa’s viewpoint might hamper Armenia’s economic development “as such negative approach to the improvement of the tax field will inevitably result in the decrease of development rates of industrial and innovative entrepreneurship.”

In their letter the authors suggest organizing public discussions were the IMF official will clarify his statement and provide IMF’s official position on the development of innovation products and services.