EEU to provide more favorable VAT regime to Armenian companies – Minister

The membership to the Eurasian Economic Union will provide more favorable VAT regime to Armenian companies, Armenian Economy Minister Karen Chshmarityan told reporters on Wednesday.

Some procedures will be simplified, the Minister said. For instance, he said, formerly, while importing products to Russia importers had to pay VAT on the border, but now the procedures will change and importers will have 50 days to pay VAT.

The documentation will also be simplified, which will create wider opportunities for sales of goods, Mr Chshmarityan added.