“Government Announces Major Tax Code Overhaul: Aiming for Efficiency and Equitability in Tax System”
The government announced changes to the Tax Code and regulations aimed at improving tax administration efficiency and reducing overall tax burden. These changes include increasing tax burden on high-income earners subject to property tax to create a more equitable system. The proposed changes also aim to reduce disparities between property and regional tax rates, improve transaction registration efficiency, and harmonize the tax system with expenditure and service trends. Alternative systems for property taxation and limiting certain activities also suggested.
“Singapore’s Prime Minister Lee Hsien Loong Passes the Torch to Lawrence Wong, Paving the Way for a Promising Future”
Singapore’s Prime Minister Lee Hsien Loong will step down on May 15th, endorsing Lawrence Wong as the next PM. Lee urges Singaporeans to support Wong and his team for a brighter future.
Minister of Finance Chairs Crucial Talks on Intellectual Property and Environmental Regulations in Armenia
Minister of Finance chairs discussions in Armenia on implementing agreement for scientific presentations and intellectual property protection. Talks include confirmation of hazardous goods list and resolving high-tech product regulation issues. News from Armenia – NEWS.am.
Yerevan’s 2023 Budget Breaks Records: Expenses Reach 111 Trillion Armenian Drams, Exceeding Revenue
Yerevan’s 2023 expenses reached 111.165tn drams, with 90% spent. Education, healthcare, and social security make up 35%, transport 27.9%, and rural environment protection 12.2%. Yerevan’s 2023 revenue exceeded projections, with personal incomes rising by 14.69tn compared to 2022. Urban planning has also exceeded expectations. READ MORE on NEWS.am.
Armenia’s Finance Minister, Edward Hovhannisyan, Makes Waves at Euromoney Conference and OECD Headquarters
Armenian Finance Minister, Edward Hovhannisyan, attends Euromoney conference in Vienna discussing global trends, economic development, and cooperation with OECD.
Armenia’s Minister of Finance Praises Collaborative Efforts with Asian Development Bank in Meeting with President Nakao
Armenia’s Minister of Finance, Vache Gabrielyan, praises the successful collaboration with ADB and highlights ongoing projects in various sectors for economic development. Discussions also address the implementation of programs supported by the ADB and the enhancement of expertise and skills through its initiatives.
“Armenia’s Unemployment Crisis: 48.4% Increase in Registered Joblessness Compared to Last Year”
Armenia’s unemployment rate soared to 48.4% in 2023, with 1.8 million people out of work. Russia has the highest number of unemployed, at 29.1%.
“Minister of Finance Reveals the Need for Over 77 Million Drams in State Budget Allocation, Assisting Displaced Karabakh Residents”
The need for over 77 million drams in the RA state budget arose during a session on State Budget 2023. The funds will be allocated for resettlement and to aid displaced persons from Karabakh. Currently, 74 million drams have been allocated, but more may be needed. News from Armenia.
Armenia: Government Reserve Fund Projected to Reach a Whopping 94 Billion Drams by 2024, Providing a Safety Net for Future Challenges
The government reserve fund in Armenia is set to reach 94 billion drams by 2024, as revealed by Finance Minister Vahé Hovhannisyan during a meeting with the National Assembly. This fund aims to efficiently manage risks, financial obligations, and emergency situations in the country.
Armenia’s Progress in Combating Corruption in Construction Sector Recognized by International Partners
Armenia’s progress in fighting construction sector corruption has impressed international partners. Finance Minister Vache Gabrielyan announced steps to improve tax service efficiency and reduce tax evasion in the draft budget for 2024. The government aims to prevent tax evasion and support programs effectively.