Yerevan/Mediamax/. Companies, which have accumulated debts on profit tax, state duty or obligatory social payments, should turn to tax structures by August 20 in order to register the schedule for repayment of debts.

Mediamax reports that Deputy Chairman of the State Revenues Committee of Armenia Armen Alaverdyan said this at a news conference in Yerevan today.

Private entrepreneurs and organizations, which have tax debts at the sum of up to AMD 50mln, will get the chance to repay the debt in the course of 10 months, and those, whose debts exceed AMD 50mln – in the course of 24 months.

“We do not have illusions that due to this process the accumulated debts at the volume of AMD 200bln will be repaid and we believe that only a part of the debtors will participate in the process. Concerning others we will be acting within the framework of the law”, Armen Alaverdyan said.