The National Assembly of Armenia has convened another special session, and there is only one item on the agenda, that is, the bill on making amendments to the Tax Code of the Republic of Armenia (in the first and second readings). The session is being held at the initiative of the government.

In this regard, Chair of the Standing Committee on Economic Affairs of the National Assembly Babken Tunyan had posted the following on his Facebook page:

On Monday at 5pm, a special sitting of the National Assembly of Armenia will be convened on the initiative of the government, during which a solution will be given to a problem that worries our businesses.

Accordingly: (1) Profit tax payers will be exempt from the obligation to make profit tax prepayments for the second quarter of the current year. (2) The profit tax prepayment system will be completely reviewed.”

At the same time, as per Tunyan, the requirement to submit a statement for the choice of the method of prepayment will be eliminated.

On the other hand, according to the MP, the profit tax prepayment system in Armenia will become more flexible, and more favorable in terms of current liquidity of economic entities.