2024-06-17 00:34:42
The SRC has put into circulation a draft legislation based on which direct and full entry to data on the financial institution accounts of people and authorized entities is deliberate for the tax authorities.
The faux packaging is similar populist: “they’re preventing towards the shadow”.
Actually, the devices of tax terror are being accomplished. Even now, they’re abolishing the financial institution secrecy safety institute, reserving courtroom capabilities to the tax authorities. The dangers of financial institution secrecy safety change into immeasurable and unmanageable, with all of the detrimental penalties arising from it.
Sure, that is one thing unprecedented in worldwide apply. It’s unprecedented, in fact, in a detrimental sense.
This transformation will in a short time result in the flight of capital from the banking system of Armenia.
Actually, the tax inspector can have all of the details about the financial institution accounts of any citizen, together with staff of personal organizations, associates, kin, and so on., as quickly as he needs, with out a courtroom order.
On this means, the authorities of the day are “fatting” the Central Financial institution after which slaughtering it.
Will probably be very troublesome to clarify particularly to international traders and monetary organizations that this instrument has a “good” function, however the Central Financial institution, maybe, is pressured to stay silent.
Tadevos Avetisyan
Deputy of RA NA “Armenia” faction, member of ARF get together