ArmInfo.On March 26, the Armenian government unanimously approved a package of state assistance to business proposed by the Ministry of Economy of the Republic of Armenia.
The conditions for providing business assistance tools during the assignment were presented by Armenian Minister of Economy Tigran Khachatryan.
According to him, legal entities and private entrepreneurs who have worked for at least one year in any of the sectors of economic activity, with the exception of the financial sector and the gaming business, and who have a healthy tax and credit history, can take advantage of the state action.
In particular, assistance (co-financing, refinancing and subsidizing of interest rates) is provided to cover the following expenses: salaries, but for each employee, not more than 500 thousand drams per month for a maximum of three months; tax payments to state or local budgets, payment of duties and other obligatory payments; purchase of raw materials or imports, provided that the entire volume must be used in Armenia in order to obtain finished products and if the economic entity has the necessary and appropriate production capacity; import of equipment that will be used without fail to organize production in Armenia or to expand production; payment for utilities (electricity, water, gas, communications, telecommunications); import of food products by trading companies, provided that the purchased or imported products will be sold exclusively in the territory of the Republic of Armenia. According to the Minister, in case of compensation of employees' salaries, the amount of co-financing will be 50%, refinancing -100%, and subsidized rates are provided in full;
In paying of taxes, duties and other obligatory payments, co-financing will be 50%, refinancing - 100% and subsidizing rates - in full;
In importing of equipment: co-financing - 25%, refinancing - 50% and subsidizing rates - 5%; In raw materials purchase: co-financing - 40%, refinancing - 50%, subsidized rates - up to 6%;
Communal payments: co-financing - 45%, refinancing - 90%, and subsidized rates - 10%;
Food imports: co-financing - 30%, refinancing - 50%, subsidized rates - 8%.
<Considering the fact of state co-financing, banks and credit organizations may request a pledge amount that will be less, commensurate with state aid, "Khachatryan said. Assistance, he said, will be provided that the maximum percentage of the integral in drams is 12%, and 9% in foreign currency.
