YEREVAN. – Tax policy has to be aimed at increasing the investment attractiveness of the economy and the level of economic activity, creating prerequisites for an increase in the share of exports and long-term economic growth, as well as redistribution of public goods and budget sustainability, the program of the Armenian government says.
“It is important to create a fair and predictable environment for investors. A policy to reduce the burden of direct taxes will be pursued to promote economic growth. Thus, profitability will increase, as well as investment incentives in the export sector. The government will reduce and establish a uniform tax rate on profits, gradually reducing it. Dividends of foreign individuals will be taxed at lower rates, as is the case with citizens of Armenia,” the program says.
The government pledges to expand the geography of agreements that exclude double taxation and to exclude shadow economy. The tax authority must act in such a way that taxpayers could not and did not seek to hide taxes. The tax authority should not once again interfere in the activities of taxpayers. The taxpayer should realize that it is honorable to pay taxes.
The business community will always be informed about the content of the reforms and the competitive advantages of Armenia. The process of transition to the customs border will be simplified, and the time required for transit will be reduced, the program says.
