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YEREVAN. - We will fix the shortest period—1 year— for the amortization of main funds within the framework of the investment programs approved by the Government, Deputy Chairman of the State Revenue Committee (SRC) told journalists Thursday.

Considering how large the initial investments in equipment, land or buildings are, the deduction of profit tax at their expense will be so large as to allow the business not to pay profit tax for the first 3-5 years, Mirumyan said.

During the debates on the Tax Code in fall 2016, the opposition proposed to accelerate the amortization periods but the authorities then refused to do that, noting that there are too many underpayments of profit tax. 

“Now we are not ready to accelerate the amortization for all the investors either. We will do that only within the framework of the investment programs, which will be adopted by the Government. But this way we will support the part of the projects, which the Government will consider important for economy,” he said. 

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