Armenian government drafts ‘revolutionary’ changes to tax code

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YEREVAN, July 14. /ARKA/. The government of Armenia is drafting a set of new ‘revolutionary’ changes to the Tax Code, one of which calls for lowering income tax rates, David Ananyan, the head of the State Revenue Committee, said at a press conference on Friday.

According to him, the changes to the Tax Code will be handled by the Ministry of Finance, but the State Revenue Committee will also submit its package of proposals.

“We believe that we are obliged to change downward some tax rates, which we believe will allow the Armenian economy to begin to breathe freely,” Ananyan said.

According to him, the tax rates should be adjusted to ensure that the economy is not a prisoner of tax administration, and to increase the rate of tax collection through administrative measures, but through development of companies.

According to him, the reduction of the income tax rate will allow entrepreneurs to “breathe” more freely and register all unregistered employees. -0-

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