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Hrant Baghratyan: New taxation rules endanger small businesses (video)
Representatives of small or medium-sized businesses, including market traders, have been staging protests in front of the government building for several days, demanding that the law be scrapped. The new law envisages the reduction of the sales tax for small enterprises from 3.5 to 1 percent, but implies stricter rules for the submission of sales-related documentation to tax authorities. The law requires that traders show tax officials documentary evidence of their transactions with wholesale suppliers. However, traders say that they cannot comply with this requirement because the suppliers routinely refuse to give them receipts. The controversial law comes into effect on February 1.
