• Opinion: Draft amendments to the Law on Commerce and Services will boost inflation (video)

    The draft amendments to the Law on Commerce and Services will boost inflation, says the chairman of the Informed and Protected Consumer NGO.

    Babken Pipoyan says the failure is usually blamed on the law in Armenia but it is the fault of relevant bodies that do not perform their functions properly.

    The bill adopted by the Armenian National Assembly in its first reading on May 14 implies that all products manufactured in or imported to Armenia, bottled and packaged or kept in containers are subject to excise taxes. Staple goods including dairy products, coffee, tea, oil fall into this category.

    “Imposing the excise tax, for example, on dairy products, they make it impossible to curb inflation. Today many manufacturers complain that they are hardly able hold down prices. Now they force manufacturers to increase prices,” Babken Pipoyan said.

    He says the main aim is to facilitate the activities of tax and customs authorities.

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