TAX REDUCTION IS AN EFFECTIVE MECHANISM IN COMBATING SHADOW ECONOMY, ARMENIAN PARLIAMENTARIAN THINKS

December 14, 2000 - 18:09 AMT
PanARMENIAN.Net - 14.12.2000, MEDIAMAX, YEREVAN. "Unity" faction positively assesses the government's initiative on amendments to tax and customs legislation", deputy of the National Assembly of Armenia, "Unity" faction representative said in the interview to Mediamax.

The deputy particularly noted the government's suggestion on reducing penalty sanctions in case of tax obligation violation (the Tax law) and decrease of tax rates, specified in Income tax and Obligatory social security laws.

Minasian thinks that tax reduction will be an effective mechanism in combating shadow economy. "If the tax burden is abated, the risk of evading tax obligations will become less justified", the parliamentarian added.

Today the special session of the parliament, at which governmental initiatives are being discussed, will proceed. -0-
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