VAT payment on Armenia Wine-imported goods postponed for 3 years

The Armenian government took a decision today to postpone until March 1, 2017 the payment of VAT on Armenia Wine LLC-imported goods exceeding 300 million drams. The plant was set up in 2008. Since 2009 it has produced wines that are sold in the domestic market and exported. The company has invested about 10bn drams since its establishment.

Armenia Wine is building a champagne workshop. By the government decision, payment of VAT on equipment the company imports for that workshop will be postponed for 3 years.

A brandy workshop is under construction in Aragatsotn province. It will be equipped with modern equipment used in all the stages of brandy making process, from grape processing to brandy production.

The company plans to invest 2.57bn drams and increase its annual production to 4.7bn drams. Armenia Wine recently created 20 new jobs with an average monthly wage of 188,000 drams.