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YEREVAN. – The National Assembly of Armenia on Tuesday passed, in the second and final reading, the draft amendments to the Law on Profit Tax.

The adopted bill proposes reducing the profit tax from 20 percent all the way to 2 percent for the companies that export 50 billion drams (approx. $103,752,390) worth of goods, per year, and reducing the profit tax all the way to 5 percent for the companies that export 40 billion drams (approx. $83,001,910) worth of goods, per year.

The opposition, however, had sharply criticized this bill noting that, as a result, the major exporters will “suffocate” the small ones in Armenia.

 

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