Government Grants Customs Exemption to Jermuk Group LLC

Today, the government granted a customs exemption to Jermuk Group LLC.

The project is expected to implement an investment of 20 billion 869 million 461 thousand AMD, of which 804 million 900 thousand AMD will be allocated for the purchase of a production line, while 20 billion 68 million AMD is intended for the acquisition of raw materials and equipment.

The company currently employs 408 workers. Within the framework of the investment project, it is planned to create 15 new jobs with an average salary of 180,000 AMD. It should be noted that the value of the goods presented for the exemption is 20 billion 68 million 242 thousand AMD. The customs duty exemption amounts to 804 million 398 thousand 571 AMD.

Another company receiving the exemption is Gold Cap LLC, which plans to invest 4 billion 622 million 41 thousand AMD, of which 220 million AMD has already been allocated for a production line, while the rest is intended for raw material acquisition. The investment project aims to create 23 new jobs (5 of which have already been created) with an average salary of 160,000 AMD. The value of the raw materials presented for the exemption is 4 billion 141 million 57 thousand AMD. The customs duty exemption amounts to 269 million 168 thousand 738 AMD.

An exemption was also granted to Zenni LLC. The company plans to invest 440 million AMD for the purchase of raw materials and new equipment. Currently, there are 101 jobs with an average salary of 100,000 AMD. The investment project aims to create 10 new jobs with an average salary of 120,000 AMD. The value of the raw materials presented for the exemption is 394 million 845 thousand AMD. The customs duty exemption amounts to 20 million 94 thousand 400 AMD.

During the discussion, Minister of Environment Erik Grigoryan inquired if the environmental fee is collected in the case of raw material import for plastic bottles by Jermuk Group. Prime Minister Nikol Pashinyan jokingly remarked, 'Apparently, the production of Jermuk mineral water is also harmful to the environment of Jermuk; there are many harmful industries, we should consider what to do, whether to close them or not.'

In response to Grigoryan's question, Minister of Economy Tigran Khachatryan mentioned that all bottling companies import the appropriate raw materials, and if it is stipulated by law, they pay it regardless of this issue.

Chairman of the State Revenue Committee Davit Ananyan added that the environmental fee is collected at the customs border. Minister of Finance Atom Janjughazyan stressed that their attention is on this issue: 'This project is unrelated; Mr. Grigoryan raised the question to draw our attention, and we have already noticed it. We will discuss it; if the tax code does not provide a clear solution to the issue, we will make it clear.'