Armenian government approves tax assistance program for slaughterhouses
Due to inadequate administration, entrepreneurs often conceal and do not document actual turnover
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YEREVAN, August 1. /ARKA/. The Armenian government approved a tax assistance program for slaughterhouses during its session on Thursday.
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Minister of Economy Gevorg Papoyan noted that slaughterhouses currently operate under unequal conditions, with small slaughterhouses paying turnover tax and large ones paying VAT and profit tax.
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Due to inadequate administration, entrepreneurs often conceal and do not document actual turnover to avoid falling under VAT taxation.
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To level the playing field, a project has been proposed where until December 31, 2027, taxpayers will be refunded 75% of the positive difference between VAT paid on meat sales and VAT paid on livestock purchases.
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The minister specified that the assistance would not apply to slaughterhouses that slaughter their own livestock or provide slaughtering services in exchange for the right to sell the resulting meat.
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It is planned that in 2024, 200 million drams will be required for payments under this benefit, and approximately 450 million drams annually from 2025 to 2027.
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