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October 24
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The Armenian parliament adopted the notorious package of tax reforms in the second reading on Tuesday.

A total of 73 parliamentarians voted in favor of the bill, while 32 voted against.

Deputies also unanimously approved in the first reading the package of draft laws on introducing amendments and addenda to the Penal Code and to the law on the maintenance of persons in custody and prisoners as well as a package of draft laws on introducing amendments and additions to the constitutional law on regulations of the National Assembly and related laws with 84 votes for and 33 against.

From January 1, 2020, Armenia will switch to a new tax system: the tax on income, regardless of the size of wages, will be set at 23%. And until 2023, the rate will gradually decrease to 20%. At the same time, the Government envisages a gradual return to the previous conditions of the accumulative pension system, while citizens will deduct not 2.5%, but 5%.

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