Armenia to ratify EEU agreement on oversight of distribution of revenues from customs duties

Armenia will ratify the Eurasian Economic Union (EEU) member states agreement on the oversight of the distribution of revenues from customs duties. Deputy minister of finance Arman Poghosyan informed about this during Mondays parliamentary debates on the aforementioned agreement.

According to him, this document provides oversight on whether the EEU countries correctly distribute the revenues from customs duties among themselves—and in accordance with the distribution according to the interstate agreement of the EEU member countries.

Every year, the EEU chairing country must approve the respective oversight measures plan, which in turn will be proposed by the member countries. Moreover, the financial authorities of these countries will have to implement these measures.

“In case of detection of violations, the countries will inform each other about them, and carry out a recalculation,” explained the Armenian deputy finance minister.

Source Link