Results on “Doing Business-2009” WB Report on Armenia shows need for completing reforms

Results on “Doing Business-2009” WB Report on Armenia shows need for completing reforms
25.09.2008, ARKA

The results of the World Bank’s report – Doing Business-2009 – on Armenia demonstrates the necessity to complete the reforms started in the country at the time, IMF Resident Representative in Armenia Marta Castello-Branco said. Armenia ranked the 44th among 181 countries in WB’s report Doing Business-2009. Armenia was the 39th in the previous year report among 178 countries.
Armenia’s main problems are complicated process of tax payments and lack of equal conditions for all businessmen, Castello-Branco said. That is why a new IMF-funded project will aim at improving tax administering and tax policy, she said.
Among other widespread problems she pointed out the problem of VAT carry-back often raised by exporters saying that returning overpayments is delayed. Under the new project, IMF will try to successively solve this problem, she said. Not fast settlement of existing problems, but long-term solutions are IMF’s objective, Castello-Branco said.
The IMF is planning to start a new three-year project in Armenia by the end of this year to provide assistance ($14-15mln) in completing tax administering and tax policy reforms. N.V. –0--