RA Minister of Economic Development and Trade Artsvik Minasyan on July 4 hosted a delegation of the International Monetary Fund (IMF) headed by senior economist at the Financial Policy Department of the Foundation Martin Grott.

The Minister informed the IMF colleagues that the tax issues are in the focus of the Armenian government and underlined that the Ministry is responsible for providing a favorable business environment. The minister said that though the Tax Code was a result of many years' work, many problems remain open and there is a need to review it, which is also the view of SMEs. He added that the problem of SMEs at present is extremely sharp and has presented a set of issues closely related to small and medium-sized businesses.

The minister particularly touched upon the problems of public catering, recreation and winemaking, and stressed that there are many types of taxes in Armenia as compared to the countries of the region.

Martin Grott underlined the importance of cooperation with the Ministry. With regard to the issues submitted by the Minister, the IMF official noted that they would cooperate with other stakeholders to fully understand the issues and expressed willingness to help develop "impressive, responsible and sustainable policies."

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