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YEREVAN, DECEMBER 15, ARMENPRESS. Armenia’s Government made changes and amendments in the law on “State assistance to Information Technology sector” under the necessity of providing tax privileges to newly emerging businesses in the IT sector, reports “Armenpress”.
Deputy Minister of Economic Development and Investments Tigran Khachatryan said the bill was developed taking into account the creation of new companies and jobs in the sector. The effective use of the law and improvement of newly established companies in the IT sector, as well as ensuring economic development are important.
“The bill proposes to define the term on providing tax privileges for 5 years, as well as to outline respective transition period for the already certified companies, according to which the certificates granted to them will remain into force for 5 years. This will boost creation of new jobs and the sector’s further development by this contributing to the overall economic development”, Tigran Khachatryan said.