Armenia moves to tax profits from Facebook, GoogleAugust 6, 2021 - 17:16 AMT PanARMENIAN.Net - Google, Facebook and similar companies will now be able to pay VAT in Armenia, Head of the State Revenue Committee Rustam Badasyan told a government meeting on Friday, August 6, after the Cabinet approved the draft project. Dwelling upon amendments in the country's Tax Code, Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Economy Minister Vahan Kerobyan noted, in turn, that the regulation is aimed not only at securing additional tax revenues, but also at leveling competitive conditions. “According to our estimates, additional taxes of at least AMD 20 billion (over $40 million - Ed.) will be collected,” he said. In 2018, Facebook started recording advertising sales made through local representatives in the countries where they are located, rather than funneling that money directly to Ireland, which has a lower corporate income-tax rate than many other countries. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." The care reaction is slated to launch globally on Facebook’s app and website sometime next week. Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |