Government Expects Economic Activity from Tax Amendments: Pashinyan

The government of Armenia anticipates certain economic activity and changes in social conditions as a result of amendments to the Tax Code. Prime Minister Nikol Pashinyan mentioned this during the discussion of the draft state budget for 2020 in the National Assembly.

“As you know, the amendments to the Tax Code will take effect in their entirety from January 1, 2020. It is important to note that approximately 200,000 citizens will see an increase in their salaries due to these tax code changes. This means that the increase in salaries will not be nominal; rather, since we have set a uniform income tax rate in the Tax Code, the sum of money that approximately 200,000 citizens will actually have at their disposal will increase as a result of these amendments,” the Prime Minister detailed.

The Prime Minister also reminded that the policy regarding the disaster zone has been somewhat altered, and in 2020, 3 billion drams have been allocated to address the housing issues of the residents of the disaster zone, for whom the state's obligations are de jure recorded. “We are currently discussing several models, and part of those models will be tested this year,” he said.