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YEREVAN. – Deputies from the Republican Party of Armenia propose to cut interest rates on income tax, Finance Minister Atom Janjughazyan said during government's session on Tuesday.

In case of the wages up to 500 thousand drams, RPA lawmakers offer to reduce the interest rate to 20 percent, and above - to 25 percent.

The Cabinet agrees with the changes, but they have to be implemented within a unified tax package.

“We must show a balanced approach, as a result of which there will be a certain decrease in tax revenues by around 45-47 billion drams. Such a change must be accompanied by a program of compensation for these funds. At first glance, everything can be done with the help of management, but this is the only way to solve this problem,” the minister said.

In turn, Armenian PM Nikol Pashinyan said that during the discussion last week in Dilijan it was decided to make drastic changes in this area.

“We need to intensify the work, so that there is no need to postpone the deadlines. In September, it will be necessary to submit a package to the parliament. Business circles are eagerly awaiting these decisions,” the head of government said, without giving any details

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