In one of our previous editions, we informed our readers that the government had presented a new draft to the National Assembly which constituted the privileges pertaining to individual entrepreneurs that have made their pledges for social security/welfare.
Vice president of the Internal Revenue Services of Armenia Armen Alaverdyan announced yesterday that, in 2006, the corresponding bodies announce their amnesty to the individual entrepreneurs who have not made their pledges.
There are approximately 70,000 individual entrepreneurs registered in Armenia of which many do not make their pledges for social security/welfare 3-4 times a year. The government proposes that the individual entrepreneurs to make 30% of their pledges until May 1st, 2006 in order to maintain their status-otherwise they will be liquidized without making their pledges. According to another law draft, the price of pledges for social security/ welfare has rose to 7,000 drams monthly instead of the 5,000 drams at the present. The draft also proposes that the entrepreneurs need to pay a 1% income tax.
The revenue service informed us that the draft has passed a second hearing.