YEREVAN. - Income tax exemptions should be stipulated not only for export, but also for the transit of goods from Armenia, Deputy Minister of Finance Vakhtang Mirumyan told Armenian News – NEWS.am on Thursday.

This doesn’t mean that the government will cease to prioritize the export of goods over the transit. The prevalence of export will be the most important requirement, and the law is very clear about this, the Deputy Minister said.

Responding to the question from Armenian News – NEWS.am correspondent regarding the minimum volume of Armenian production in the export program, Mirumyan said that no concise threshold will probably be fixed. The programs will be approved by the government, depending on their specificities.

According to the amendments to the Law on Income Tax, adopted in the beginning of April, companies exporting over AMD 400 billion a year will pay 5 per cent of income tax instead of the current 20 per cent, while for the exporters the income tax will amount to 2 per cent for exporting more than AMD 50 billion.