Gagik Makaryan: Small and medium businessmen should be left alone

The requirement of the Law on Turnover Tax concerning document circulation allegedly has to do with control over big business, but there are also other ways to do it, Chairman of the Union of Employers of Armenia Gagik Makaryan told journalists today. 

In his words, first of all small and medium businessmen should be left to their own devices. “In fact, the amendments to the turnover tax law are good as they are aimed at developing SMEs, which is a positive approach,” Makaryan said.

By the amendments to the Law on Turnover tax, business entities will have to pay 3.5% tax if turnover exceeds 58.3 million drams.

“We should not look for those who are wrong and who are right here. I think small and medium businessmen should be left alone: 1% tax should remain unchanged, with no requirements related to document circulation being set,” he noted.