Doing business in Armenia
“Market Access” data base developed by the European Commission provides the customs nomenclature, rates of customs duties applicable to the goods imported to Armenia and originating in the European Union. This base enables obtaining open and free information from any EU country (http://madb.europa.eu). There are special customs duties for some goods, such as alcoholic beverages. In addition to the customs duties, VAT (20% rate only) and customs fees should be paid. The latter is made for carrying out customs formalities (3,500 AMD) and for inspection and recording of goods according to their weight (1,000 AMD for cargo less than 1 ton of weight and plus 300 AMD for each additional (or less) ton for cargo over 1 ton of weight). Free trade zones
Recently the RA National Assembly has adopted the Law “On Free Economic Zones”. The RA Government plans to set up several zones as soon as this Law enters into force. One of the zones will be at Mars plant in Yerevan and the second at Zvartnots international airport. In addition, two more free economic zones are planned to be set up at Epygui Lab in Yerevan and at Gyumri Technology Park. Free trade agreements
Armenia is adherent to free trade and is actively involved in the process of regional trade integration. This stance constitutes an asset for those producers who want to export a part of their production to the neighbouring countries. Meanwhile, many regional trade agreements between the CIS countries remain unapplied; Armenia is in free trade with the majority of these countries (except for Azerbaijan).
© 2012 Grant Thornton CJSC. All rights reserved. 43