The administration carried out by the SRC shall be compliant to the legislation

The administration carried out by the SRC shall be compliant to the legislation

The State Revenue Committee of the Republic of Armenia must provide clear explanations regarding the fact why the tax authority does not allow (mainly car importing companies) to submit applications for the entry of value added tax debit balances into the unified account (if submitted, they demand to cancel it), by threatening to suspend the study process and avoiding to present any justification, as a result of which the businessmen do not receive these amounts. 

Sergey Muradyan, the CEՕ of "Step Consulting" LLC, reports this, we are talking about the return of more than 40 million drams for one reporting period.

"It is clear that re-export is not the most important and promising branch of the economy, but at the same time, currently, hundreds of businessmen are engaged in this activity in Armenia and, of course, if the latter are cut off from current funds (accumulated VAT, which they themselves pay to the state budget), then business processes will decrease and slow down, as a result of which the state will suffer in terms of customs duty and profit tax, as well as our share of business may be transferred to other EAEU countries," the specialist notes.

According to Sergey Muradyan, as a result of these processes, the law enforcement agencies should follow with full attention so that those who offer illegal intermediary assistance in the VAT return do not become active and/or there is no illegal "business activity" using administrative leverage.

The source of the article:

30 May 2023, Tuesday | 369

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