ARMENIAN GOVERNMENT OFFERS TAX EXEMPTIONS TO THE COMPANY INJECTING AMD 1.25BLN INTO GREENHOUSE CONSTRUCTION

YEREVAN, July 18./ARKA/. Government of Armenia decided Thursday to
offer tax exemptions to Kaga Group company that invests in building
greenhouses in Kotayk region of Armenia. The greenhouses take 3
hectares and the total investments stand at 1.25 billion drams.

Prime Minister Tigran Sargsyan noted some investors are starting
to inject funds into greenhouse construction in Armenia more and
more often.

It is the fifth time over the last month the government has offered
exemptions for the companies investing in greenhouses.

“This is a profitable business that opens new job places, work all
year round and has high export potential,” Sargsyan underscored.

According to the revised law “On value added tax” in April 2009, VAT
payment for the companies importing to Armenia goods, new technologies
or equipment in the amount of over 300 million drams or investment
package of which exceeds the mentioned amount, are delayed for three
years. ($1 – 410.30 drams).-0-

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