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Finance Government

“Armenia Aims to Reduce Tax Burden Disparity, Finance Minister Pushes for Reform”

The Minister of Finance of the Republic of Armenia, Arman Poghosyan, has announced the need to reduce the difference in mandatory tax burden in the country. During a discussion on amendments to the Tax Code and other related laws in the National Assembly, Poghosyan highlighted the importance of reducing the progressive tax rate to prevent evasion of documented expenses. He also emphasized the need for increased document verification in various tax systems and restrictions on certain types of taxable transactions. Poghosyan further mentioned the issue of region-based taxation or implementing a micro-enterprise mechanism. Currently, approximately 55 thousand taxpayers pay property tax, and the government aims to simplify the transition from the property tax system to the general tax system with proposed solutions. The draft law received a positive opinion from the Standing Committee on Economic Affairs of the National Assembly.