OSCE Office launches guide for SMEs on simplified tax policies in Armenia

YEREVAN, 23 December 2009 - An updated version of a guide on Armenian tax policies for small and medium-sized enterprises (SMEs), supported by the OSCE Office in Yerevan, was launched in Yerevan today.

Part of the OSCE Office's long-term support to SMEs, the latest edition of the guide provides an overview of new legislation coming into effect in January 2010 that aims to provide easier tax and customs compliance procedures for SMEs.

"We welcome and strongly support the Government's dedication to unlock the SME sector's development potential by simplifying administrative procedures for paying taxes in Armenia. Among other possible benefits this could lead to a dramatic improvement of the overall business environment and a significant reduction of corruption risks," said Ambassador Sergey Kapinos, the Head of the OSCE Office in Yerevan.

The guide was developed by a team of experts from Logicon Development, a local consultancy, under the guidance of a multi-stakeholder working group chaired by the SME Development National Centre and supported by the OSCE Office in Yerevan.

The package of amendments recently approved by the National Assembly was supported by a study on simplifying tax and custom reporting requirements commissioned by the OSCE Office in early 2009.

"This publication is the result of our commitment to reinvigorate reform of Armenia's business environment, thus ensuring the most favourable conditions in the region for doing business, which in turn can help the Armenian economy overcome the effects of the global crisis," said Armenia's Economy Minister Nerses Yeritsyan.

The electronic version of the guide has been developed with financial support from the Deno Gold Mining Company, which has worked with the OSCE Office to build public-private partnerships aimed at supporting the socio-economic development of rural areas.