Government to Exempt Importing Company from Customs Duties

The Government of Armenia will consider granting a customs duty exemption to SOVT PAPIRUS LLC. According to Armenpress, the agenda of the government meeting on November 28 includes the issue of approving the application submitted by the company to benefit from the customs duty exemption for technological equipment, its components and supplementary parts, raw materials, and substances imported within the framework of an investment program in a priority sector.

“It is proposed to approve the application submitted by SOVT PAPIRUS LLC to use the exemption from customs duties on technological equipment, its components and supplementary parts, raw materials, and materials imported within the framework of an investment program in a priority sector and to apply the relevant exemption in accordance with the appendix concerning the imported technological equipment, its components and supplementary parts, raw materials, and substances,” states the draft decision.

The products imported by the company will be used for the production of napkins, paper towels, and medical bed sheets. The imported products do not come from EAEU member states, as they do not meet the company's technical requirements. The availability of the exemption is expected to serve as a serious incentive for the implementation of new investment programs and, consequently, the creation of new jobs, attracting investments, and promoting local production and exports,” the draft decision emphasizes.