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We take obligations on indirect reduction of income tax - through the draft funded pension system

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15.06.2018
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The issue of reducing the income tax is on the agenda of the new Armenian government, but the government wants to give this issue not a local, but a comprehensive solution. This was stated by the Minister of Finance of Armenia Atom Janjughazyan, responding to the remark that the issue of reducing the income tax was removed from the agenda of the last session of the previous government of Armenia, leaving it to the discretion of the new government.

"We are discussing the feasibility of the tax system in the light of our needs for economic development, and we want the issue to be resolved not locally but in a complex manner. The issue of income tax reduction is on the agenda of the new government of Armenia. As a transitional solution, it was suggested to divide the payments by the accumulative pension fund in the proportion of 2.5% -7.5%, where 7.5% is paid by the state until the income tax rates are revised. The logic is not to reduce the amount that can be available, "Armenian Finance Minister Atom Janjughazyan said.

According to him, thus the government takes obligations on the indirect reduction of income tax - through the draft of the accumulative pension system, in the context of time.

As the Minister of Finance of Armenia Atom Janjugazyan said, it is now difficult to say how much the income tax rate will decrease, this should be done on the basis of scrupulous calculations, it is important to come to the amounts of income that are supposed to be received.

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