Head of the State Revenue Committee on Tax Increases for Pawnshops and Exchange Points

During a press conference today, the head of the State Revenue Committee, David Ananyan, addressed the proposed tax increases for pawnshops and exchange points, stating that those engaged in these activities should be honest.

“Operators of pawnshops should remember that the tax set for them has not been revised in the last 20 years. Moreover, the state duty amount is an expense that reduces the base for profit tax. If they believe they have operated transparently, they should not have any issues regarding tax changes. If they have a turnover of 100 million drams, and operating with less makes no sense, then a 60-fold increase in state duty does not significantly raise their tax burden. Perhaps they have done that calculation but are not disclosing it,” he said.

According to David Ananyan, even if pawnshops did not exist, banks are fully capable of providing the services offered by them.