12/09/2013 12:12
Haykakan Zhamanak: Small business may come to brink of bankruptcy
To all appearance the State Revenue Committee (SRC) of Armenia has decided to increase state budget revenues by an additional sum at the expense of final bankruptcy of several thousand small businessmen, ‘Haykakan Zhamanak’ says.
“Last year the SRC set a trap in the Law on Value Added Tax and the Law on Turnover Tax, and hundreds of small enterprises have already fallen into that rap. The problem is related to arbitrary interpretation of the word ‘person’ in those laws. Now small businessmen have already started to receive notices about heavy fines from the State Revenue Committee,” the paper says.