YEREVAN. – Armenian lawmakers almost unanimously voted for the bill on support to IT companies. The draft bill was adopted in the first reading with 115 votes for, zero against and two abstentions.

The draft bill suggests tax preferences to IT startup companies for three years. The preferences include zero income tax and 10-percent profit tax. The preferences are also suggested for startup companies with not more than 15 employees and for a period of not more than three years. The law also will function till 2020.

The initiative is expected to lead to creation of 40-60 companies per year.