YEREVAN. – The Government of Armenia is discussing a new package of tax changes, which will probably be sent to the parliament at the end of October, Minister of Finance Vache Gabrielyan stated during a briefing with news reporters on Tuesday. In his words, they are looking into avenues toward more tax collection by way of increasing taxes and reducing shadow economy.    

Specifically, they are envisioning a review of excise rates, since certain excise was in the form of fixed charges, and, following price increases, there is a need to review them, Gabrielyan noted.        

In addition, according to the Minister, a bill on  making tax changes in the mining industry is currently discussed at the National Assembly. This proposal adjusts royalties, and this will increase budget revenues and encourage foreign investment.