On February 25 Armenian PM Hovik Abrahamyan received the delegation headed by Director General at Asian Development Bank and newly appointed General Director of ADB’s Central and West Asia Department Sean O’Sullivan. The delegation also included Shane Rosenthal, the newly appointed head of ADB’s office in Armenia.
This doesn’t refer to the issue, that we very deeply feel worsening of EEU major actor—Russia’s economic condition via decrease of transfers and other manifestations. Truly enough, our membership to EEU more deepened economic dependency from Russia, however, Armenia would have felt those negative signals on its economy, even if not engaged with the structure.
The idea is quite simple, it’s an economic structure, and if Armenia, with its small population, thinks of enlarging its economy, major secret for success is the market. It’s clear, that there are political layers in EEU, as well as in economy. We saw what impact politics had in our relations with the Ukraine, and what’s going on in economy of the Ukraine.
Armenian citizens will no more pay value-added tax (VAT) for the cars imported from the countries of Eurasian Economic Union (EAEU). For that purpose Armenian government made additions to one of the previous decisions and approved the Armenian Republic’s draft law on making amendments and additions to the law of the Republic of Armenia on “Value-added tax” and considered the aforesaid as an urgent issue.
Today, RA Parliament adopted a draft bill, pursuant which it’s proposed to make amendments to the Law on “Value Added Tax.” It’s offered not to charge VAT for vehicles imported by physical persons from EEU member countries.
According to some rumors, Armenia will have 10-12 banks by the end of the year. Moreover, it can’t be stated for sure, that small banks will refrain from the market. What is more, decisions on banks’ refraining may be partially considered on political dimension.
The Armenian-Iranian sides have deviated from the action plan provided for by “Meghri” HPP construction project and now they are revising the technical-economic component of the project. Deputy Minister of Energy and Natural Resources of Armenia Areg Galstyan told about this during a round-table discussion themed “The Eurasian path of Transcaucasia: integration for development”. In his words, conditioned by the diminishing water resources of Armenia, Iran and Armenia have to revise the “Meghri” HPP project.
Chairman of the Eurasian Economic Commission (EEC) Tigran Sargsyan met with President of Kazakhstan Nursultan Nazarbayev in Astana. “Armenpress” reports, citing the press service of the President of Kazakhstan, issues of the development of the EAEU, common strategy of establishing economic relations with the third countries, deepening of economic relations, as well as the common strategy of the member states in global markets under the existing conditions were discussed at the meeting.
Vakhtang Mirumyan, RA Deputy Minister of Finance, submitted the draft bill on “Amendment to RA Law on Cash Transactions.” According to him, purpose of the draft bill is revision of limitations on cash payments by foreign citizens in the territory of the Republic of Armenia. Under current legislation, payment for single transaction by physical persons, […]
He noted, that until 1 January 2017 a transfer period has been defined, and starting from that date, importing a car from EEU member countries, VAT won’t be charged to the tax inspection. In V.Mirumtan’s words no customs duties are charged in any case.
