June 19, a regular sitting of the Standing Committee on Budget, Financial and Economic Management of the Republic of Artsakh NA was convened. It was held by the Chairman of the Committee, Artur Harutyunyan.

Discussing a package of draft laws: "On Amendments and Additions to the Law on Taxes", "On Amendments and Additions to the Law on Profit Tax", "On Amendments and Additions to the Law on Income Tax", "On Amendments and Additions to the Law "On Excise Tax", "On Amendments and Additions to the Law "On Value Added Tax", "On Amendments to the Law "On Compulsory Fees for Regulation of Public Services", "On Environmental and Nature Use Fees" "On Amendments to the Law", "On Amendments and Additions to the Law "On Trade and Services"" were the issues of the agenda.

The package of draft laws was presented by Davit Poghosyan, Chairman of the State Revenue Committee of the Republic of Artsakh.

The package offers about 1.5 dozen changes and additions.

According to the first proposed amendment, a penalty will be charged for every 15 completed days following that deadline, in case of late submission or non-submission of the calculations submitted to the tax authority by taxpayers or tax agents.

The package also provides:

1. The Law "On Taxes" should clarify the cases of considering two or more persons as related for taxation purposes
2. To set the deadline for submitting the excise tax calculation to the 20th of the following month in order not to tax duty-free shop organizer with excise tax
3. Consider an object that performs intermediary activities for the transportation of goods outside the territory of the Republic of Artsakh (Republic of Armenia) exempt from value added tax
4. To extend the period of exemption from value added tax established in terms of import and/or alienation transactions of vehicles with an electric motor until January 1, 2024.

With the adoption of the package, the business environment will improve, effective administration will be introduced and the ambiguities arising from the application of laws will disappear.

The Head Committee unanimously voted in favor of the package of projects. It will be presented to the discussion of the regular session of the National Assemb