YEREVAN. – A brandy alcohol innovative reprocessing company will receive tax exemptions in Armenia.

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

Accordingly, the Lakuzer Armenia JSC will become a resident of the “Alliance” Free Economic Zone (FEZ) in capital city Yerevan.

In the FEZ, this company will reprocess brandy alcohol using innovative technologies.

The entire production is planned to be exported.

Under the current law, the value-added tax (VAT) rate is zero percent in this free economic zone.