Adhering to the mission of ensuring and improving the normal functioning of its customers, our company has developed a package of legislative proposals for one of its customers, which will be submitted to the relevant authorities.
“LEGAL ALLIANCE” Law Firm has developed a “Package of proposals aimed at improving the legislation on the Free Economic Zone”, which will be submitted to the State Revenue Committee of the Republic of Armenia and the Ministry of Economy. The above-mentioned document refers to the fulfillment of the obligations arising from the Customs Code of the Eurasian Economic Union by the domestic legislation, as a result of which legislative gaps have been identified. These include the absence of a number of procedures necessary to ensure the normal operation of the FEZ customs procedure, such as accounting, reporting, identification, and so on. In addition, the analysis addressed some other issues related to the simplification of customs administration, certificates of country of origin, etc.
The analysis presents proposals aimed at resolving issues raised in the light of international experience. Taking into account the fact that the Republic of Armenia is a member of the Eurasian Economic Union, and its customs legislation is predetermined by the norms established by the Code, the legislation of other member states of the Union was mainly studied, with reference to the legislation of other countries containing progressive regulations, for example, Georgia’s.
We are hopeful that in addition to our client investors, the businessmen operating the SEZ in general will benefit as a result of the adoption of these proposals and the implementation of legislative changes.
