YEREVAN. – Armenia may turn into a unique offshore country. Opposition Heritage Party National Assembly (NA) Faction Secretary Tevan Poghosyan stated the aforesaid at Thursday’s NA debates on the amendments to the Law on Turnover Tax.

Poghosyan noted that reducing the profit tax from 20 percent to 2 percent for the ultra large companies in Armenia may result in the creation of false-residency companies in the country, and under the name of production and with the government consent, and these companies will benefit from the local lower taxes.

To note, the companies, which have Armenian government-approved export projects, and which conduct business solely in foreign markets, may apply for lower taxes in Armenia.