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Armenia, most likely, will move to a flat scale of income taxation from January 1, 2020


Armenia, most likely, will move to a single, flat, scale of taxation of incomes from  January 1, 2020, instead of the previously announced September 1, 2019th. It is about reducing the profits tax to 23% regardless of the amount of income. Deputy Finance Minister of Armenia Arman Poghosyan told ArmInfo  correspondent that if everything goes according to plan and the draft  amendments will be approved at the...

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EU-Armenia trade turnover grows by 19%: GSP+ system contributes to facilitation of export


Armenia’s trade turnover with the member states of the European Union has recorded a major growth in 2018, comprising 1 billion 830 million 74 thousand USD, moreover, the export grew by nearly 8%. The GSP+ privileged trade regime and the new electronic system for certification of origin of goods greatly contributed to the boosting of the commercial relations and the facilitation of the export process. Artur Maysuryan, head of the...

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To ensure stable growth of the Armenian economy, the export / GDP ratio should be at least 50%


In 2018, Armenia recorded the largest increase in trade turnover in the EEU. In 2018, the country's exports to the EU amounted to $ 2.4 billion.  Economist, member of the Eurasian expert club Ashot Tavadyan said this at a press conference, introducing the report "Armenian Economy in 2018." and priorities in the context of the country's membership in the EAEU>. According to the expert, for the development of the country's...

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It is important to introduce a foreseeable and fair tax system for taxpayers in Armenia


As part of cooperation with international organizations, on February 14, Mikael Pashayan, Deputy Chairman of the State Revenue Committee (SRC), held  a working meeting with representatives of the European Bank for  Reconstruction and Development (EBRD). According to the press office of the SRC, during the meeting Mikael  Pashayan presented the Committee's mission, the Committee's  achievements in information...

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In the next five years, the Armenian government will pay special attention to the issue of reducing the volume of cash transactions


In the next five  years, the Armenian government will pay special attention to the  issue of reducing the volume of cash transactions. On February 12,  speaking at the parliament of the country, Prime Minister Nikol  Pashinyan said. According to him, research shows that the "shadow", as a rule, falls  on cash transactions. In non-cash circulation, the shadow sphere is  either absent or minimized. Nevertheless, as...

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An average y-o-y economic growth of 5%, as laid down in the government`s program, is quite ambitious.


The Armenian government aims to ensure y-o-y economic growth at an average of 5%, which is fixed in its five-year program of activities. The Minister of Economic Development and Investments of Armenia Tigran Khachatryan said this on February 8 after the sitting of the Cabinet. According to the Minister, last year's reports indicate that in the  world the average economic growth rate is 3.7%. "We want to provide ...

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The government is committed to creating a competitive andefficient, high-tech and technological agriculture


Increase efficiency agriculture and food security introduction of modern technologies, the increase in export volumes and the growth of profits for all agricultural entities, ranging from small households to exporters, will be key areas in the policy of agricultural development in Armenia. This is stated in the new government program,  published on the website of the Cabinet."The government considers it unacceptable that one-third of...

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