YEREVAN, 6 MAY, ARMENPRESS. The purpose of the draft law proposing amendments to the laws on the income tax and profit tax is to foster entrepreneurship in Armenia. As “Armenpress” reports, this is what Deputy Minister of Finance of the Republic of Armenia Vakhtang Mirumyan said during a press conference.

During a May 5 special session, the National Assembly discussed the issue on passing by a first reading the package of draft laws on making supplements and amendments to the Law of the Republic of Armenia “On Income Tax” and making supplements and amendments to the Law of the Republic of Armenia “On Profit Tax”. On May 6, the National Assembly voted and passed the draft law.

When asked if Armenia had come to terms with Russia in regard to this issue, Vakhtang Mirumyan mentioned: “Why do we need to come to terms with Russia? Each country acts within the limits of the legal-contractual field. Armenia doesn’t set any restrictions on setting rates for profit and income taxes.”

When asked if this didn’t mean that taxes would be levied from Armenians working abroad, the deputy minister said: “This doesn’t mean levying taxes from people working abroad, and our actions don’t contract the legal-contractual provisions at all.”