Fund for supporting Armenian servicemen to enjoy tax exemption
Armenia’s National Assembly passed Wednesday at the first reading amendments to the law on compensations for the damage inflicted to servicemen lives and health during military actions and some related laws implying establishment of a fund for compensations for killed and wounded servicemen’s families. .
Vigen Sargsyan, Armenian defense minister, said the Armenian legislators have passed the amendments at the first reading and it has become clear during the discussion that some alterations related to the fund’s activity are needed.
“In particular, the amendments specify that seizure decisions as well as injunctions on the use and other demands and restrictions can’t apply to the fund’s financial resources,” he said. “Only the damage inflicted to life or health…”
The minister said that the fund will not pay profit and income tax and it will also be exempted from all types of duty.
Sargsyan expressed confidence that the funds will operate excellently and, addressing the lawmakers, he said that they will be proud of their votes cast for it.
“And I, as a politician, threw my political career and future into the scale,” he said.
The minister also proposed to impose a new kind of taxes on the population for this purpose.
It is stated in the amendments that the fund will enjoy the population’s confidence and act transparently and openly and will provide compensations to the mentioned categories.
The fund will be filled from the money taken from working people – AMD 1,000 from each working person every month. Grants, donations and emission of special securities are expected as well.
In particular, the minister proposes to pay an AMD 10-million lump-sum benefit to families of those servicemen killed or wounded and included in first- degree disability category.
Wounded servicemen with second-degree disability are proposed to receive an AMD 5-million lump-sum benefit.
After that disabled servicemen with first-degree disability will receive insurance money for 20 years – officers will have AMD 300,000 per month, warrant officers AMD 250,000 and enlisted soldiers AMD 200,000.
Second-degree disables servicemen will receive AMD 200,000 and AMD 100,000 respectively.
As much as AMD 82 million will be allocated for families of dead officers or first-degree disabled officers and AMD 70 million for warrant officers and AMD 58 million for enlisted soldiers.
Extra AMD 100,000 will be paid to those families having three or more kids.
The new scheme is planned to come into force after January 28, 2017. ($1 – AMD 484.31). --0----