Head of the RA State Revenue Committee Gagik Khachatryan said that Armenia’s processing industry is of keen importance, since it is directly related to agriculture, which is declared a priority field in 2011.
“The legislative field for the sphere is rather liberal, the more so as we are ready to exempt a range of commodity groups from VAT payment at border to promote development of the country’s economy. Specifically, this refers to fertilizers, pesticides and agricultural equipment,” Khachatryan said after a meeting with representatives of the field, in which Armenian President Serzh Sargsyan also participated.
The meeting brought together 21 processing companies from six regions of Armenia and Yerevan.
35% growth was recorded in the turnover of Armenia’s processing industry in 2010 compared to 2009, bringing it to AMD 65bln. However, no increase was reported in taxes, making AMD 5bln on an average.
