May 16, the regular sitting of the Standing Committee on Budget, Financial and Economic Management Convened chaired by Artur Harutyunyan.

The discussion of the bills "On Making Amendments and Addenda to the Law "On Taxes"" and "On Making Amendments to the Law "On Value Added Tax"" were included in the agenda.

The draft laws were presented by David Poghosyan, the chairman of the State Revenue Committee of the Republic of Artsakh.

According to the chairman of the State Revenue Committee, the introduction of the draft law "On Amendments to the Law "On Taxes"" is due to the need to clarify the procedure for the enforcement of tax liabilities and solve problems that arise in the implementation of the law."

The bill proposes to initiate administrative proceedings for collection of unfulfilled tax liabilities if the amount of unfulfilled tax liability exceeds 500 thousand drams or more than two months have elapsed since the date of the tax liability, except for cases of inspection of tax liabilities or other acts, for which in due time of non-fulfillment of the obligations within the defined terms. Those acts shall be submitted for compulsory execution within three months after they become unappealable.

Another amendment proposes to set the tax liabilities period of gradual repayment up to five months.

According to Davit Poghosyan, the submission of the draft law "On Making Amendments to the Law "On Value Added Tax"" is conditioned by the need to curb rising bread prices.

According to the amendment proposed by the draft, the sale of bread and lavash produced by the producer in the Artsakh Republic will be exempt from VAT, regardless of the fact that it is produced on the basis of raw materials obtained from the producer of agricultural products.

The drafts will be submitted with a positive conclusion to the NA next regular sitting for discussion.