YEREVAN. – The Government of Armenia has approved the procedure for providing profit tax benefits for the major exporters of the country.

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

To note, however, these tax benefits will not apply to those companies that export mining, sub-excise and jewelry products, and precious stones and metals.

Individual exporters as well as groups comprising enterprises will be eligible for these benefits.

To note, 75 percent of the customs value of the exports needs to be made up of products that are manufactured in Armenia.