There are 61,000 small and medium-sized enterprises registered in Armenia, and most of them are small businesses and micro businesses. This is what Armenia’s Minister of Economic Development and Investments Tigran Khachatryan as the bills on making amendments and supplements to the laws on shareholding companies, limited liability companies and the stock market were being considered during a session held by the Standing Committee on Economic Affairs of the National Assembly on 25 March.

According to him, there are sectors in which small and medium-sized enterprises are a driving force and will continue to be a driving force in the near future. “Our policy has to be aimed at creating more favorable conditions for small and medium-sized enterprises. You are aware that the National Assembly will soon launch discussions on the Tax Code, and one of the major points is the recommendation that micro businesses need to be exempt from paying taxes,” the minister clarified. In addition, as Khachatryan mentioned, there will be a simplified tax regime for small and medium-sized businesses.