285 enterprises to publish their financial reports this<br /> year <br />


285 enterprises to publish their financial reports this
year

  • 08-04-2010 15:24:00   | Armenia  |  Economy
YEREVAN, APRIL 8, NOYAN TAPAN. The RA Ministry of Finance published a list of 285 enterprises which have to publish their financial reports (with an external auditor's conclusion) this year. Prime Minister Tigran Sargsyan said during the April 8 sitting of the government that these 285 enterprises are the ones with a turnover of over a billion drams in 2008. In his words, the list will be specified and it is likely that after the reports are summarized, some enterprises will be removed from the list and others will be included in it. "We are criticized that we cannot ensure proper control at big enterprises, and I agree with that. If a big enterprise has an opportunity to avoid tax liabiliies, it is a great evil for any state," the prime minister said, adding that "this undermines the foundations of a state". He said that the Ministry of Finance must publish the results of its analysis within a year, in particular the indices of big tax payers in 2008 and 2009. According to T. Sargsyan, there is concern that last year the main tax burden was on small and medium business, which prevented SME from developing. "Thus the publication of reports will allow the public to control us, because one can make an independent analysis based on these financial reports and see which big enterprises fulfill their obligations to the state," the prime minister said.
  -   Economy