YEREVAN, AUGUST 22, ARMENPRESS. Prime Minister of Armenia Nikol Pashinyan has tasked tax bodies to carry our mild administration with micro-businesses and productions. “This is my approach. I want to say that there will be a very important change in the Tax Code that will support small business. We will define symbolic taxes for small businesses with 24 million AMD turnover annually. In fact, it will be tax free. I am speaking about turnover tax. In a way, micro business will be granted with tax privileges”, ARMENPRESS reports Pashinyan as saying.

The PM also presented the ideas discussed at the Government. “These are preliminary ideas and I ask not to take it for already made decisions. There is an idea that for example if someone has 100 thousand or 50 thousand USD, he can think about establishing some business, but if one has 3 or 5 thousand USD and wants to make an investment, he has no chances today. Only the option of bank deposit remains, but that’s a passive activity. We think that the citizens should have the opportunity to make more active investments and in this sense we highlight the creation of such companies in the finance market that issue securities where citizens can buy these securities, by which they will participate in businesses with small investments”, Pashinyan detailed.

“The other idea is creating an Armenian Fund of Investments which will be aimed at providing loans for business at very affordable interest rates. These are ideas that are still being discussed and there are problems and complications with them, but these are the directions we are thinking about”, the PM emphasized.

Translated and edited by Tigran Sirekanyan