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 | Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Pashinyan: We must stop searching for homeland, we have found that homeland Prime Minister Nikol Pashinyan has shared a message on the 109th anniversary of the Armenian Genocide. Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. |