WORLD BANK: TAXATION TO BE TOUGHER IN MINING INDUSTRY

[Sascha Gabizon]

from our partner Eco Lur

WORLD BANK: TAXATION TO BE TOUGHER IN MINING INDUSTRY

2011-01-13 00:00

Aysor.am 

Mining industry is also an important source of economy diversification, a serious income source from export, as well as an opportunity to create more working places and to ensure budget proceeds. Jean-Michel Happi, the World Bank Country Manager for Armenia made this announcement to journalists on 12 January. 

Nevertheless, according to him, standards existing in Armenia raised certain challenges connected with environment protection, social reporting, as well as taxation regimes and tax collection. These are most important issued taken into consideration by investors. 

In this regard Jean-Michel Happi noted that improvement of former version of RA Law “On Soil” is still in progress and the WB supports the government efforts in this direction. 

It should be noted that improved version of RA Law “On Soil” was submitted for parliament consideration in the mid if November 2010 and at present the standing committees of National Assembly are discussing this draft law.

Sascha Gabizon   -   Executive Director

WECF

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