IN CASE HE IS ELECTED, ARMENIAN PRESIDENTIAL CANDIDATE VAZGEN MANUKIAN WILL CUT DOWN THE RATE OF PROFIT TAX
Mediamax
February 11, 2008
Yerevan /Mediamax/. Armenian presidential candidate, Leader of the
National-Democratic Union (NDU) Vazgen Manukian stated in Yerevan today
that in case he is elected, he will cut down the rate for profit tax
from the present 20% to 15%.
"We understand that in a short-term prospect this will have negative
influence on the budget proceeds, however already in a year we will
witness more intensive economic growth", Vazgen Manukian stated today,
presenting his economic program.
Mediamax reports that the candidate also noted that it is necessary to
cancel the present order of VAT collection on the border from products,
which have not been realized yet.
Answering the question on the struggle against shadow economy, Vazgen
Manukian noted that "the peculiarity of the shadow sector of Armenia,
which makes, according to certain data, up to 50% from the GDP, is
its interlocking with authority structures, and against this very
phenomenon it is necessary to struggle in the first place".