TohidA/MONA · Datasets at Hugging Face

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Submit to Parliament legislative proposals to adopt OECD guidelines for transfer pricing for implementation in 2013.

1

11/30/2012

SB

Introduced at R4.

4

1

2012-11-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Approve a medium-term expenditure framework (2011–13), including a medium-term debt management strategy.

1

08/31/2010

M

Introduced at R0. Rationale: Improve fiscal policy framework.

4

1

2010-08-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue a government decree stipulating that clarifications and interpretations of laws, regulations, and procedures on taxes, duties, and mandatory fees should be approved by the Ministry of Finance. These clarifications and interpretations will become normative acts to be published and applied consistently across all taxpayers effective September 1, 2010.

1

07/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

4

1

2010-07-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a tax appeals board under the government to deal with legal and procedural disputes of taxpayers.

2

09/30/2010

MD

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection. This condition was modified at R1.

4

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a Tax Appeals Committee under the Ministry of Finance to deal with legal and procedural disputes of taxpayers.

3

09/30/2010

MOD-SB

At R1, text or description of this benchmark is modified. "Set up a Tax Appeals Committee" changed to "Set up a tax appeals board.."

4

3

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Approve terms and conditions for deposit auction to enable the CBA to absorb liquidity with greater flexibility.

1

09/30/2011

M

Introduced at R2.

4

1

2011-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

21.1

2.1. Central bank operations and reforms

Publish the CBA's liquidity forecast that provides projected amount of dram liquidity before CBA's actions with indication of separate components such as currency outside the CBA, net foreign assets, government transactions excluding treasury bill issuances, and treasury bill issuances for liquidity management purposes.

2

12/31/2011

M

Introduced at R2.

4

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

23.1

4.1. Pension reforms

Complete first set of estimates of the fiscal cost of the pension reform.

1

12/31/2012

SB

Introduced at R4.

4

1

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Adopt a decree on introducing an integrated system for the provision of social protection services.

1

03/31/2011

MOD-SB

Introduced at R0. Rationale: Reduce poverty. At R1, text revised to "Submit amendments to existing laws..."

4

1

2011-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Submit amendments to existing laws to parliament to enable the full functioning of an integrated system for the provision of social protection services.

2

12/31/2011

MD

Introduced at R1. At R4, Successful pilot project for integrated system in 6 regions revealed need for additional work on legislative and regulatory package. Rephrasing proposed.

4

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Approval by Cabinet of list and timetable of required legal and regulatory amendments to enable the full functioning of the integrated system of social protection services.

3

10/31/2012

SB

Introduced at R4.

4

3

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

25

6. Financial sector

Formalize the Committee for Financial Stability in an MOU to set the modalities for main policy makers to coordinate their policies and responses in case of an imminent critical situation in the banking sector.

2

09/30/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

4

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulations to specifically address currency-induced credit risk, including increased loan-loss provisioning requirements and higher risk weights in capital requirements for foreign currency loans.

1

06/30/2010

M

Introduced at R0. Rationale: Reduce currency-related risks in the financial sector.

4

1

2010-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulation requiring banks to prepare their contingency plans for liquidity and solvency support.

2

12/31/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

4

2

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation initiating collection and transmission by banks to the CBA of information on the currency mismatch of large borrowers.

3

06/30/2012

SB

Introduced at R4.

4

3

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation introducing low-level liquidity coverage ratios by major currencies, effective January 2013.

4

06/30/2012

SB

Introduced at R4.

4

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Parliament further changes to the legal framework for competition (fines and sanctions, definitions).

1

10/31/2012

SB

Introduced at R4.

4

1

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

N/A

2012-06-15

P1

R4

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Cabinet a packet of legislative and regulatory changes in at least one area under the Regulatory Guillotine initiative (from among construction permitting, inspections, health and social regulations, or another major regulatory reform area).

2

12/31/2012

SB

Introduced at R4.

4

2

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Increase the tax rate structure for up-market luxury vehicles and SUVs for 2012 and adjust the specific tax on cars annually for inflation.

1

12/31/2011

PM

Introduced at R2. At R4, Tax rates for luxury vehicles increased for 2012, but no annual adjustment mechanism.

5

1

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Introduce legislative changes that provide for annual automatic indexation of excises for inflation.

2

08/31/2011

NM

Introduced at R2.

5

2

2011-08-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Approve a Tax Strategy paper.

3

12/31/2011

MOD-SB

Introduced at R2. That lays out the tax reform objectives and implementation plan for 2012–15.

5

3

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Overhaul fiscal regime for the mining sector a. Strictly limit the fiscal stability clause in the new mining code to tax rates and to a set period of 5 years. b. Introduce and collect resource rents in terms of a variable royalty regime with the sliding rate depending on the EBIT to sales value. c. Clarification of deductibility of contributions for mine rehabilitation and mine site clean-up.

4

12/31/2011

M

Introduced at R3.

5

4

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Approve a Tax Strategy paper that lays out the tax reform objectives and implementation plan for 2012–15.

5

12/31/2011

M

Modified from "Approve a Tax Strategy paper."

5

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Develop manuals for tax audits for usage starting January 2011.

1

12/31/2010

MOD-SB

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection. The text was changed in R1. See the modified SB in R1 SB-s.

5

1

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Simplify the reporting system by reducing the frequency of reporting to tax authorities and considerably streamline tax forms for VAT, profits tax, and personal income tax.

2

12/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

5

2

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Adopt a government decree establishing a mechanism for implementing a fully functional risk management approach in VAT refund processing.

3

12/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

5

3

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Implement a fully functional risk-based management approach in VAT refund processing.

4

06/30/2011

MD

Introduced at R1.

5

4

2011-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Develop manuals in tourism, real estate, transport, and sectors using cash register machines for tax audits for usage starting January 2011.

5

12/31/2010

M

This is a modification of the SB which was present at R0, and was modified to this version at R1.

5

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Set up a taxpayer registry.

6

12/31/2011

MOD-SB

Introduced at R2. At R3, this benchmark is replaced by a new benchmark on identifying whether a taxpayer has VAT liablity.

5

6

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Establish the capacity to identify whether the taxpayer has VAT liability by adding a VAT payer identification number to the tax identification number.

7

12/31/2011

M

Introduced at R3 to replace the benchmark on setting up a taxpayer registry.

5

7

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Issue a White Paper detailing the measures and costs to address of addressing mixed cash and accrual accounting and refunding or setting off against future VAT liability excess VAT credits.

8

03/31/2012

M

Introduced at R3.

5

8

2012-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Submit to Parliament legislative proposals to adopt OECD guidelines for transfer pricing for implementation in 2013.

1

11/30/2012

SB

Introduced at R4.

5

1

2012-11-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Approve a medium-term expenditure framework (2011–13), including a medium-term debt management strategy.

1

08/31/2010

M

Introduced at R0. Rationale: Improve fiscal policy framework.

5

1

2010-08-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue a government decree stipulating that clarifications and interpretations of laws, regulations, and procedures on taxes, duties, and mandatory fees should be approved by the Ministry of Finance. These clarifications and interpretations will become normative acts to be published and applied consistently across all taxpayers effective September 1, 2010.

1

07/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

5

1

2010-07-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a tax appeals board under the government to deal with legal and procedural disputes of taxpayers.

2

09/30/2010

MD

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection. This condition was modified at R1.

5

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a Tax Appeals Committee under the Ministry of Finance to deal with legal and procedural disputes of taxpayers.

3

09/30/2010

MOD-SB

At R1, text or description of this benchmark is modified. "Set up a Tax Appeals Committee" changed to "Set up a tax appeals board.."

5

3

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

Approve terms and conditions for deposit auction to enable the CBA to absorb liquidity with greater flexibility.

1

09/30/2011

M

Introduced at R2.

5

1

2011-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

21.1

2.1. Central bank operations and reforms

Publish the CBA's liquidity forecast that provides projected amount of dram liquidity before CBA's actions with indication of separate components such as currency outside the CBA, net foreign assets, government transactions excluding treasury bill issuances, and treasury bill issuances for liquidity management purposes.

2

12/31/2011

M

Introduced at R2.

5

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

23.1

4.1. Pension reforms

Complete first set of estimates of the fiscal cost of the pension reform.

1

12/31/2012

SB

Introduced at R4. At R5, on track.

5

1

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

23.1

4.1. Pension reforms

Submit by government to Cabinet two pension reform decrees to establish: (i) procedures for managing the guarantee fund for mandatory, funded contributions; and (ii) quantitative and currency restrictions on investing mandatory funded pension assets in financial instruments.

2

12/31/2012

SB

Introduced at R5.

5

2

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Adopt a decree on introducing an integrated system for the provision of social protection services.

1

03/31/2011

MOD-SB

Introduced at R0. Rationale: Reduce poverty. At R1, text revised to "Submit amendments to existing laws..."

5

1

2011-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Submit amendments to existing laws to parliament to enable the full functioning of an integrated system for the provision of social protection services.

2

12/31/2011

MD

Introduced at R1. At R4, Successful pilot project for integrated system in 6 regions revealed need for additional work on legislative and regulatory package. Rephrasing to 2013.

5

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Approval by Cabinet of list and timetable of required legal and regulatory amendments to enable the full functioning of the integrated system of social protection services.

3

10/31/2012

M

Introduced at R4. At R5, action taken in July 2012.

5

3

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25

6. Financial sector

Formalize the Committee for Financial Stability in an MOU to set the modalities for main policy makers to coordinate their policies and responses in case of an imminent critical situation in the banking sector.

2

09/30/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

5

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulations to specifically address currency-induced credit risk, including increased loan-loss provisioning requirements and higher risk weights in capital requirements for foreign currency loans.

1

06/30/2010

M

Introduced at R0. Rationale: Reduce currency-related risks in the financial sector.

5

1

2010-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulation requiring banks to prepare their contingency plans for liquidity and solvency support.

2

12/31/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

5

2

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation initiating collection and transmission by banks to the CBA of information on the currency mismatch of large borrowers.

3

06/30/2012

M

Introduced at R4.

5

3

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation introducing low-level liquidity coverage ratios by major currencies, effective January 2013.

4

06/30/2012

M

Introduced at R4.

5

4

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend and issue by CBA regulations to require banks to immediately report to the CBA changes to operations that have a material adverse impact on the bank (e.g., any substantial change in activities, structure, financial situation or overall condition, or as soon as banks become aware of any material adverse developments, including breaches of legal or prudential requirements) (December 2012).

5

12/31/2012

SB

Introduced at R5.

5

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Parliament further changes to the legal framework for competition (fines and sanctions, definitions).

1

10/31/2012

NM

Introduced at R4. At R5, Likely to be delayed to December 2012 to incorporate comments from ministries and agencies.

5

1

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Cabinet a packet of legislative and regulatory changes in at least one area under the Regulatory Guillotine initiative (from among construction permitting, inspections, health and social regulations, or another major regulatory reform area).

2

12/31/2012

M

Introduced at R4. Met by time of completion of R5.

5

2

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2012-12-10

P1

R5

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit by government to parliament a regulatory guillotine legislative packet in a fourth area (i.e., following completion of three packets in 2012. This could cover, e.g., construction permits or education).

3

03/31/2013

SB

Introduced at R5.

5

3

2013-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Increase the tax rate structure for up-market luxury vehicles and SUVs for 2012 and adjust the specific tax on cars annually for inflation.

1

12/31/2011

PM

Introduced at R2. At R4, Tax rates for luxury vehicles increased for 2012, but no annual adjustment mechanism.

6

1

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Introduce legislative changes that provide for annual automatic indexation of excises for inflation.

2

08/31/2011

NM

Introduced at R2.

6

2

2011-08-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Approve a Tax Strategy paper.

3

12/31/2011

MOD-SB

Introduced at R2. That lays out the tax reform objectives and implementation plan for 2012–15.

6

3

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Overhaul fiscal regime for the mining sector a. Strictly limit the fiscal stability clause in the new mining code to tax rates and to a set period of 5 years. b. Introduce and collect resource rents in terms of a variable royalty regime with the sliding rate depending on the EBIT to sales value. c. Clarification of deductibility of contributions for mine rehabilitation and mine site clean-up.

4

12/31/2011

M

Introduced at R3.

6

4

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Approve a Tax Strategy paper that lays out the tax reform objectives and implementation plan for 2012–15.

5

12/31/2011

M

Modified from "Approve a Tax Strategy paper."

6

5

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Develop manuals for tax audits for usage starting January 2011.

1

12/31/2010

MOD-SB

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection. The text was changed in R1. See the modified SB in R1 SB-s.

6

1

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Simplify the reporting system by reducing the frequency of reporting to tax authorities and considerably streamline tax forms for VAT, profits tax, and personal income tax.

2

12/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

6

2

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Adopt a government decree establishing a mechanism for implementing a fully functional risk management approach in VAT refund processing.

3

12/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

6

3

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Implement a fully functional risk-based management approach in VAT refund processing.

4

06/30/2011

MD

Introduced at R1.

6

4

2011-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Develop manuals in tourism, real estate, transport, and sectors using cash register machines for tax audits for usage starting January 2011.

5

12/31/2010

M

This is a modification of the SB which was present at R0, and was modified to this version at R1.

6

5

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Set up a taxpayer registry.

6

12/31/2011

MOD-SB

Introduced at R2. At R3, this benchmark is replaced by a new benchmark on identifying whether a taxpayer has VAT liablity.

6

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Establish the capacity to identify whether the taxpayer has VAT liability by adding a VAT payer identification number to the tax identification number.

7

12/31/2011

M

Introduced at R3 to replace the benchmark on setting up a taxpayer registry.

6

7

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Issue a White Paper detailing the measures and costs to address of addressing mixed cash and accrual accounting and refunding or setting off against future VAT liability excess VAT credits.

8

03/31/2012

M

Introduced at R3.

6

8

2012-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Submit to Parliament legislative proposals to adopt OECD guidelines for transfer pricing for implementation in 2013.

1

11/30/2012

M

Introduced at R4. At R6, met. The government approved the law on transfer pricing on Dec. 27. Further improvements will be made to the draft legislation prior to National Assembly consideration.

6

1

2012-11-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.5

1.5. Debt Management

Approve a medium-term expenditure framework (2011–13), including a medium-term debt management strategy.

1

08/31/2010

M

Introduced at R0. Rationale: Improve fiscal policy framework.

6

1

2010-08-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Issue a government decree stipulating that clarifications and interpretations of laws, regulations, and procedures on taxes, duties, and mandatory fees should be approved by the Ministry of Finance. These clarifications and interpretations will become normative acts to be published and applied consistently across all taxpayers effective September 1, 2010.

1

07/31/2010

M

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection.

6

1

2010-07-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a tax appeals board under the government to deal with legal and procedural disputes of taxpayers.

2

09/30/2010

MD

Introduced at R0. Rationale: Reduce corruption, increase tax compliance, and enhance revenue collection. This condition was modified at R1.

6

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Set up a Tax Appeals Committee under the Ministry of Finance to deal with legal and procedural disputes of taxpayers.

3

09/30/2010

MOD-SB

At R1, text or description of this benchmark is modified. "Set up a Tax Appeals Committee" changed to "Set up a tax appeals board.."

6

3

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

21.1

2.1. Central bank operations and reforms

Approve terms and conditions for deposit auction to enable the CBA to absorb liquidity with greater flexibility.

1

09/30/2011

M

Introduced at R2.

6

1

2011-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

21.1

2.1. Central bank operations and reforms

Publish the CBA's liquidity forecast that provides projected amount of dram liquidity before CBA's actions with indication of separate components such as currency outside the CBA, net foreign assets, government transactions excluding treasury bill issuances, and treasury bill issuances for liquidity management purposes.

2

12/31/2011

M

Introduced at R2.

6

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

23.1

4.1. Pension reforms

Complete first set of estimates of the fiscal cost of the pension reform.

1

12/31/2012

M

Introduced at R4. At R5, on track. At R6, met.

6

1

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

23.1

4.1. Pension reforms

Submit by government to Cabinet two pension reform decrees to establish: (i) procedures for managing the guarantee fund for mandatory, funded contributions; and (ii) quantitative and currency restrictions on investing mandatory funded pension assets in financial instruments.

2

12/31/2012

M

Introduced at R5. At R6, met. Decree on quantitative and currency restrictions on investing the second pillar assets approved. Guarantee fund decree expected to be approved in June 2013.

6

2

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Adopt a decree on introducing an integrated system for the provision of social protection services.

1

03/31/2011

MOD-SB

Introduced at R0. Rationale: Reduce poverty. At R1, text revised to "Submit amendments to existing laws..."

6

1

2011-03-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Submit amendments to existing laws to parliament to enable the full functioning of an integrated system for the provision of social protection services.

2

12/31/2011

MD

Introduced at R1. At R4, Successful pilot project for integrated system in 6 regions revealed need for additional work on legislative and regulatory package. At R6, package now expected to be passed by October 31, 2013.

6

2

2011-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

23.2

4.2. Other social sector reforms (e.g., social safety nets, health and education)

Approval by Cabinet of list and timetable of required legal and regulatory amendments to enable the full functioning of the integrated system of social protection services.

3

10/31/2012

M

Introduced at R4. At R5, action taken in July 2012.

6

3

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25

6. Financial sector

Formalize the Committee for Financial Stability in an MOU to set the modalities for main policy makers to coordinate their policies and responses in case of an imminent critical situation in the banking sector.

2

09/30/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

6

2

2010-09-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulations to specifically address currency-induced credit risk, including increased loan-loss provisioning requirements and higher risk weights in capital requirements for foreign currency loans.

1

06/30/2010

M

Introduced at R0. Rationale: Reduce currency-related risks in the financial sector.

6

1

2010-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue prudential regulation requiring banks to prepare their contingency plans for liquidity and solvency support.

2

12/31/2010

M

Introduced at R0. Rationale: Increase the stability of the financial sector.

6

2

2010-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation initiating collection and transmission by banks to the CBA of information on the currency mismatch of large borrowers.

3

06/30/2012

M

Introduced at R4.

6

3

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue a regulation introducing low-level liquidity coverage ratios by major currencies, effective January 2013.

4

06/30/2012

M

Introduced at R4.

6

4

2012-06-30

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend and issue by CBA regulations to require banks to immediately report to the CBA changes to operations that have a material adverse impact on the bank (e.g., any substantial change in activities, structure, financial situation or overall condition, or as soon as banks become aware of any material adverse developments, including breaches of legal or prudential requirements) (December 2012).

5

12/31/2012

M

Introduced at R5.

6

5

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Parliament further changes to the legal framework for competition (fines and sanctions, definitions).

1

10/31/2012

NM

Introduced at R4. At R5, Likely to be delayed to December 2012 to incorporate comments from ministries and agencies. At R6, Authorities will work to build consensus on a final packet with strong investigative provisions later this year (2013).

6

1

2012-10-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit to Cabinet a packet of legislative and regulatory changes in at least one area under the Regulatory Guillotine initiative (from among construction permitting, inspections, health and social regulations, or another major regulatory reform area).

2

12/31/2012

M

Introduced at R4. Met by time of completion of R5.

6

2

2012-12-31

N/A

649

ARMENIA

911

ECF-EFF

2010-06-28

2,010

2013-06-27

2,013

2013-09-27

N/A

2013-06-24

P1

R6

L

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Submit by government to parliament a regulatory guillotine legislative packet in a fourth area (i.e., following completion of three packets in 2012. This could cover, e.g., construction permits or education).

3

03/31/2013

M

Introduced at R5. At R6, met. Packet on health care submitted.

6

3

2013-03-31

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

PA

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Publish the new five-year gas agreement with Russia and Gazprom and associated documents.

1

Program Prior Action

M

N/A

0

1

2023-09-23

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20

1. General government

Submit to the National Assembly a new draft law on inspection and inspection agencies, for introduction of risk based inspection, maximization of the automation, and elimination of the overlaps by reducing agencies.

1

03/31/2014

SB

Introduced at R0. Outcome: Improve business environment

0

1

2014-03-31

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20

1. General government

Submit to the Cabinet a plan to restructure the Directorate General for Civil Aviation and establish the new set-up for moving towards open skies.

2

04/30/2014

SB

Introduced at R0. Outcome: Increase competition, improve connectivity, and lower costs.

0

2

2014-04-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.1

1.1. Revenue measures, excluding trade policy

Prepare a policy paper on strengthening collections from high-wealth individuals (HWI), covering necessary tax policy changes (e.g., dividend and capital gains taxation), revenue administration actions and legal or regulatory changes (risk and compliance profiles and audit), and the institutional set-up.

1

09/30/2014

SB

Introduced at R0. Outcome: Strengthen tax revenue collections

0

1

2014-09-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.2

1.2. Revenue administration, including customs

Submit to the National Assembly legislative amendments to the customs code to introduce an Authorized Economic Operators (AEO) system, improve the appeals procedures, introduce an advance tariff information system, extend the scope of electronic declaration of goods, and introduce the possibility of postponing the payment by introducing a systems for financial guarantees.

1

03/31/2014

SB

Introduced at R0. Outcome: Improve business environment and facilitate trade.

0

1

2014-03-31

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.2

1.2. Revenue administration, including customs

Establish a Risk Management Unit (RMU) in the State Revenue Committee (SRC) to develop and implement a modern tax compliance strategy.

2

06/30/2014

SB

Introduced at R0. Outcome: Improve efficiency, transparency, and evenhandedness of revenue administration

0

2

2014-06-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Establish a fiscal risk management unit at the Ministry of Finance that analyzes and manages fiscal risks related to concessions, regulated utilities, state-owned enterprises (notwithstanding the extent of state shareholding or line-ministry affiliation), and PPPs in an integrated manner.

1

12/31/2014

SB

Introduced at R0. Outcome: Strengthen monitoring and control of fiscal risks

0

1

2014-12-31

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.9

1.9. Inter-governmental relations

Submit to the National Assembly six Regulatory Guillotine legislative packages, covering entrepreneurship, tax, customs, social issues, foreign affairs and international relations, and culture, in addition to completion of packets in 2012-13.

1

06/30/2014

SB

Introduced at R0. Outcome: Improve business environment

0

1

2014-06-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

20.9

1.9. Inter-governmental relations

Put in place memoranda of cooperation between the SCPEC and the SRC, the Economic Crimes Unit of the National Police, and the Office of the Public Prosecutor, covering investigative subpoena, and “dawn raid” operations, information required by the SCPEC, and participation by SCPEC staff in on-site examinations.

2

06/30/2014

SB

Introduced at R0. OutcomeL: Improve business environment

0

2

2014-06-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

24

5. Public enterprise reform and pricing (non financial sector)

Issue a study of policy options (energy efficiency investments, tariffs, and targeted protection for vulnerable groups).

1

12/31/2014

SB

Introduced at R0. Outcome: Improve efficiency in the energy sector.

0

1

2014-12-31

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Issue regulations to require banks to set minimum capital requirements for common equity and Tier 1 capital according to the Basel III recommendations, and prepare the methodology on identifying domestic systemically important banking institutions (SIBIs).

1

06/30/2014

SB

Introduced at R0. Outcome: Improve banking sector regulation and supervision

0

1

2014-06-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Prepare a policy paper with stakeholders on legal, regulatory, and institutional changes to simplify registration and execution of collateral.

2

06/30/2014

SB

Introduced at R0. Outcome: Improve the operating environment for banks

0

2

2014-06-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Submit to National Assembly legislation to shorten the depositor pay-out period of the DGF.

3

09/30/2014

SB

Introduced at R0. Outcome: Improve bank resolution framework

0

3

2014-09-30

N/A

710

ARMENIA

911

EFF

2014-03-07

2,014

2017-05-06

2,017

N/A

2014-03-07

P1

R0

E

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Submit to the National Assembly an amendment to the securities law to facilitate access of foreign participants in Armenia's capital market, bringing the framework in line with international standards.

4

09/30/2014

SB

Introduced at R0. Outcome: Develop financial market

0

4

2014-09-30

N/A