YEREVAN. – The National Assembly of Armenia on Friday rejected, with a vote of 38 against and 35 for, the bill which the opposition “Way Out” Faction has introduced, and with respect to making amendments and additions to the new Tax Code of the country.

According to the grounds for this law proposal, due to the new Tax Code that entered into force on January 1, the increase in the tax rates on energy resources has resulted in a rise in the prices of these sources and essential goods in Armenia.

This draft law was proposing to return to these energy resources’ excise tax rates prior to January 1, and to reduce employees’ income tax rates.