Government to lower revenue tax threshold to 20% in coming 5 years

YEREVAN, NOVEMBER 20, ARMENPRESS. Shadow salaries exist in Armenia, caretaker Prime Minister Nikol Pashinyan said today.

“The accounting says that an employee receives 80,000 drams, but the employee is actually getting 160,000 or 200,000 drams,” he said, elaborating on the issue. “Now, in this situation, there is no interest for the employer to show the real salary. We are now introducing flat taxing to encourage peple to register real salaries. There are countries that have used this practice, when revenue tax was reduced the picture of salaries changed,” he said.

He said that the revenue tax threshold will be reduced up to 20% in the coming five years.

He said that salaries have already been raised to a certain extent as a result of accumulative pension policy. He said that the government plans to leave 50 million drams in the pockets of the people as a result of tax policy.

Edited and translated by Stepan Kocharyan