Armenian Government Granted Privilege to Mining 'ML MINING' LLC For Third Time

Armenian Government Granted Privilege to Mining 'ML MINING' LLC For Third Time

EcoLur

On 25 January at its Cabinet meeting, the Armenian Government reached a decision to grant privileges to 'ML Mining' LLC. The equipment worth around 2 billion AMD, as well as their spare parts, raw materials and substances imported to Armenia for mining purposes will be exempt from customs tax. The governmental resolution doesn't mention how many years the company will enjoy these privileges.

During 2017 the Armenian Government reached a decision twice to exempt this company from paying customs taxes for the import of equipment. Based on governmental resolution dated on 23 June the company was exempt from the customs tax for the equipment worth 75 million AMD, while the governmental resolution dated on  24 August 2017 exempted the company from paying the customs tax for equipment worth 243 million AMD.

According to the official information, the company has already invested 1 billion AMD in the frames of its investment program and plans to invest another 2 billion AMD by the end of its investment program – 2021.

15:18 January 30, 2018


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