HAYKAKAN ZHAMANAK: ARMENIA TO FACE SANCTIONS?
news.am
Oct 22 2010
Armenia
According to the reliable information at the Haykakan Zhamanak
(Armenian Time) newspaper’s disposal, the relevant agencies of
the European Union (EU) and World Trade Organization (WTO) decided
to initiate proceedings against Armenia for violating free trade
regulations.
The point is the difference in tax rates for tobacco and vodka
imported and produced in Armenia. In defiance of its commitments,
Armenia has set higher tax rates for imported tobacco and vodka than
for their home-made counterparts.
The Armenian Parliament has lately amended a number of laws thereby
reducing the difference between the tax rates for imported and
home-made products. The EU and WTO do not appear to consider the
measure sufficient. If the case goes to the International Court of
Arbitration, sanctions may be applied against Armenia.
To avoid problems, the Armenian authorities will have to reduce the
difference in tax rates.
From: A. Papazian