YEREVAN. – The idea of family business tax will be applied in Armenia for the first time, Ministry of Finance Department Chief Vahag Mirumyan told news reporters on Thursday.

Before that, however, the Government had approved the draft for making changes in the Law on License Fees, which will be introduced to the parliament.   

This change in the Law will enable the private entrepreneur family member to replace the business-licensed individual without receiving a new business license.

And a mere AMD 1,000 (approx. US$ 2.55) will have to be paid for this process.