YEREVAN. – The new Tax Code of Armenia shall not obstruct businesses, said Prime Minister Hovik Abrahamyan, at Thursday’s Cabinet meeting.

He added that one of the main ideas of this code is to eliminate tax benefits and to replace them with targeted subsidies from the budget.

In the PM’s words, however, it needs to be substantiated that the wavering of these tax benefits will not worsen the condition of Armenia’s enterprises that need assistance.

“Each businessman shall get thoroughly familiar with the code and get the opportunity to present his view,” stressed the PM.

Hovik Abrahamyan added that the draft Tax Code will be submitted to the parliament next year, and it will come into force in 2018.