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SRC: All organizations providing financial services should be under Central Bank of Armenia control

05.04.2019 09:48

SRC: All organizations providing financial services should be under Central Bank of Armenia control

YEREVAN, April 4. /ARKA/. All organizations providing financial services should be under the control of the Central Bank of Armenia, David Ananyan, the head of the State Revenue Committee (SRC), told journalists on Wednesday. According to the government-proposed changes, the annual duty on running a pawnshop is to increase from the current 100 thousand drams (about $204) to 6 million drams (about $12 thousand), and for money exchange offices -from the current 50,000 drams ($102) to 3 million drams (about $6.1 thousand ).

The decision is opposed by the Union of Currency Dealers, which argues that it would force 80% of money exchange offices to shut down “The state duty on pawnshops in the amount of 100 thousand drams has not been revised over the last 20 years. They should also be aware that the income tax should be reduced from 20% to 18%,” he said.

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