YEREVAN. – The Government of Armenia approved Thursday the tax legislation review program. The latter specifically proposes to examine the expedience of lifting the tax “holiday” of the Pan-Armenian Bank.   

To note, the Pan-Armenian Bank officially opened in September. It is founded as an open stock company, and its objective is to collect long-term financing from international finance organizations and other private sources directed toward development, to provide long-term development financing to competitive production enterprises registered and operating in Armenia.

And pursuant to the corresponding law, the Bank enjoys tax privileges, and it is exempt from state registration and licensing fees.