An unprecedented drop in tax burden is expected for small businesses: by 50% and 70% for capital Stepanakert and the regions respectively, Artsakh Minister of State, Grigory Martirosyan, wrote on his Facebook page. As in many developing countries, in Artsakh small businesses are the most vulnerable, the State Minister wrote.
Unprecedented drop in tax burden expected for small businesses of Artsakh
STEPANAKERT, JULY 6, ARTSAKHPRESS: ''Taking into consideration the difficulties that these citizens have in making a living we have put forward some suggestions to make changes in law which will result in essential tax decrease and will bring relief to the small businesses. To note:
- Small businesses that do not have a trade area of more than 10 m² and who do not have hired workers will have the opportunity to work by a “privileged payments system”. The tax burden for these businesses will drop by 50% in Stepanakert and by 70% in the regions.
- These small businesses will not be obliged to do registration bookkeeping, to use cash registers and to present activities report to tax bodies. The burden of the aforementioned tax payers will annually decrease by 17 mln drams.
