Representatives of small businesses in Armenia are taking steps towards improving their financial transparency and tax compliance. Rustam Badasyan, the chairman of the Public Council’s Committee on Economic Affairs, announced today that small business owners have been submitting their financial statements and paying their taxes more diligently. However, Badasyan also noted that there are still cases where some small business representatives are evading their responsibilities.

The mandatory regulation for tax compliance among small business owners has not been fully enforced. While there has been progress in terms of accountability, there is still room for improvement. Badasyan emphasized the importance of all small business owners fulfilling their obligations to contribute to the development of the country’s economy.

These efforts to enhance transparency and tax compliance are crucial for the economic growth of Armenia. With small businesses being an integral part of the country’s economy, their participation in financial accountability is essential. By fulfilling their responsibilities, small business owners can contribute to the overall stability and prosperity of Armenia.

As the chairman of the Public Council’s Committee on Economic Affairs, Badasyan’s remarks shed light on the ongoing efforts to promote financial transparency among small businesses in Armenia. By addressing the issue of tax evasion and encouraging compliance, the country aims to create a fair and level playing field for all businesses.

Overall, this move towards improved financial transparency and tax compliance by small business owners in Armenia is a positive development. It demonstrates their commitment to contributing to the country’s economy and fostering an environment of accountability. As the regulation is further implemented and enforced, it is expected that the number of businesses evading taxes will decrease, leading to increased revenue for the government and sustainable economic growth.