Government to Compensate Employers' Income Tax for Six Months in Artsakh, Says Tandilyan

The government of Artsakh will compensate employers' income tax for six months. This information was disclosed in an interview with Sputnik Armenia by Mane Tandilyan, the Minister of Labor, Social Affairs, and Housing of the Republic of Artsakh.

"This is being done so that employers retain their staff positions, and why not, create new ones, as the state will cover their income tax expenses," the minister stated.

According to Mane Tandilyan, this also provides an opportunity for the emergence of new businesses. "Let them come, invest, and open job positions considering the existing conditions," she added.

It should be noted that legal entities with mortgage, business, and consumer loans and borrowings issued before September 27, 2020, will receive support from the state. For business loans, borrowings, or leasing, the interest amounts calculated from September 27 of the previous year until December 31 will be reimbursed, and the principal payments scheduled until July 1, 2021, will be distributed across the further term of the loan. In cases where the loan maturity ends between September 27 and July 1, 2021, the repayment of the principal is expected to occur over the next six months evenly.

The reimbursement program for these loans can be utilized by those economic entities that are operational and whose activities are ongoing.