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The income tax rate is expected to be reduced by 2%, said Finance Deputy Minister Arman Poghosyan at Armenian Parliament on Friday.

According to him, the share of participants in social payments is expected to be restored and the previous ratio of 5% - 5% between participants of social payments and the state.

It is also planned to implement a reduction in income tax, he added.

“This implies a certain loss of tax revenue. In particular, the loss from income tax was estimated at 27.5 billion drams, and the income tax at 11 billion drams," the Finance Minister noted.

Poghosyan noted that the government does not plan to raise the value-added tax rate, because it is essentially a regressive tax that "will strike at the poverty.”

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