The goal of the proposed bills is to expand the scope of activities of IT companies. This is what Armenia’s Deputy Minister of Transport, Communication and Information Technologies Gegham Vardanyan said during a discussion on the package of bills on making amendments and supplements to the law on state support to the field of information technologies and on introduction of amendments to the Tax Code during the session of the Standing Committee on Economic Affairs of the National Assembly on 25 March.
The deputy minister stated that this package of bills has been approved by the government. According to him, the emphasis is particularly on electronic systems, testing, production and the creation of computer games and developments of graphics, as well as the design and testing of integration schemes.
“We also want to create favorable conditions for the operation of the branches of large IT companies in Armenia,” Vardanyan emphasized, adding that this refers to the companies, the branches of which are registered and have been operating in the territory of Armenia for the past five years.
According to the deputy minister, mechanisms for preventing risks in case of failure of IT companies to pay taxes will be established. “We also want to provide newly established IT companies with the opportunity to benefit from the tax privileges and are offering to extend the term of payment of those taxes to 22 December 2022,” the official clarified.
According to him, this law is very important fro IT companies and may serve for increasing the recognizability of Armenia in the global IT market.