YEREVAN. – The threshold for the VAT return from the purchases conducted in Armenia will be reduced for foreign individuals.

The respective decision was adopted at Thursday’s Cabinet meeting.

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Accordingly, this threshold will be dropped from 100,000 drams (about $208) to up to 50,000 drams (about $104), when making purchases from one commercial point during the day.

“Thus, shopping [in Armenia] will be convenient for tourists and other guests in our country,” stated Chairman Vardan Harutyunyan of the State Revenue Committee.