EcoLur
The Armenian Government has decided to grant tax privileges to mining enterprises thus accepting their offer. The government plans to amend the procedure of paying royalties set by RA Tax Code.
'Currently, mining companies are paying for all those materials, which they don't extract as a source of income. The companies have proposed to make payments for the certain metal, which is the source of their income, which is, by and large, is called the preservation of justice principle in mining,' RA Nature Protection Minister Artsvik Minasyan said.
In reply to EcoLur's question whether these companies are not posed a requirement to carry out complex and thorough extraction of all metals, which are sent to tailing dumps, Artsvik Minasyan responded, 'It's definite that we shall impose requirements on mining in regard with use of up-to-date technologies and introduction of maximum extraction technologies. Our main interest is environment, as mining and exploitation of any natural resource shall be within reasons and it's a constitutional rule. Registration, planning of resources, introduction of management system, monitoring, assessment of learning outcomes shall be an entire chain including tailing dumps. Consequently, in this viewpoint we shall not relate with what we are trying to amend and with remainders dumped into tailing dumps.'
Here we speak more about the introduction of a just system under the conditions of current low prices in mining enterprises, but not more.'
This tax amendment will enter into force in RA Tax Code from 1 January 2018 for mining sector. For this purpose, relevant legislative proposals will be submitted to RA National Assembly.
February 13, 2017 at 17:14