YEREVAN. – At its Cabinet session on Thursday, the government of Armenia decided, within the framework of an investment program, to make a change in the tax break—the VAT deferral for 3 years—granted to Satenkar LLC, and to extend the term of this tax break for another year—until August 20, 2021.

Minister of Economy Tigran Khachatryan presented the matter. He noted that the extension of this period is conditioned by the addition of new raw materials on the list that is approved by the annex, and which are expected to be imported into Armenia within two years.

The minister noted that this company has been operating since 2002, and it is engaged in knitwear production in Aragatsotn Province.

Khachatryan added that the amount of respective investments has more than doubled.