Luxury tax to be discussed again

The government has approved the guide to the strategic principles of revision of tax and customs legislation and the timetable of measures to be implemented based on those principles. The prime minister showed special interest in the provisions concerning luxury tax.

“Our citizens have also raised this issue and the mood prevailing in Armenia, in Yerevan today is in line with the opinion that this tax may ensure additional budget revenues and allow dealing with social problems. Besides, every time when the matter concerned an increase in excise taxes on cigarettes and alcohol, an argument was put forward that prices in neighboring countries are low and such a measure would result in shadow turnover. We have been informed that our neighbors also plan to raise excise taxes. The problem should be discussed from this viewpoint as well in order to ensure additional tax revenues,” Prime Minister Tigran Sargsyan said.