Armenian Government to review Tax Code

YEREVAN, OCTOBER 13, ARMENPRESS. The Government of Armenia will review the Tax Code and the worrying provisions existing in it, Deputy Minister of Economic Development and Investments Emil Tarasyan told the reporters after the Cabinet meeting.

“We have receives some concerns and we work in that direction. Currently our ministry is involved in making analysis of the Tax Code to detect the points that can somehow create obstacles for economic development”, “Armenpress” reports Emil Tarasyan saying. He added that before the Tax Code enters into force, it will be thoroughly reviewed and the points that can impede economic development will be amended.

To the question if the Tax Code will be once again amended, the Deputy Minister said that he cannot say at the moment, since the initiator is the Ministry of Finance.

To another question regarding the point that worries the Deputy Minister most, Emil Tarasyan answered that there is an alarm among IT representatives that the new benchmark of income tax for employees with high salaries can lead to that the specialists may just leave the country.

“Those concerns are currently under discussion. We have to count the number of the subjects that fall under that law. If it is really a large-scale issue, may be some changes will occur”, the Deputy Minister said.