Deputy Minister with a Rich Biography Buys Apartments: 'Zhoghovurd'

The Deputy Minister of High Technologies and Industry of Armenia, Davit Sahakyan, was appointed on May 7, 2021. This is reported by the newspaper 'Zhoghovurd'.

Sahakyan, who has a rich biography, purchased apartments in 2018 and 2020 in the Nor Nork administrative district of Yerevan.

Previously, the IT sector was included among the top large taxpayers, but according to a law adopted in 2022, organizations with IT certificates received tax benefits: a 0% profit tax rate (instead of the 20% net income of the general tax regime) and a 10% income tax rate for employees (instead of 23% of the general tax regime). This is a sector that could generate stable income and significantly increase the state budget.

The privileged deputy minister has also declared a vehicle, a 2010 model Mercedes Benz.

His bank account balances amounted to 791,000 dram, cash resources were 3 million dram and 2,500 dollars. His income for the reporting year of 2022 was 18 million 625 thousand dram, of which 14 million 588 thousand dram was salary from the Ministry of High Technologies and Industry, 1 million 321 thousand dram was salary from the Russian-Armenian University, and 2 million 716 thousand dram was received from the Ministry of Finance for repaying the mortgage on his apartment in accordance with the principle of income tax return.

The remaining principal of loans and borrowings as of December 31 accounted for 22 million 423 thousand dram, of which 21 million 397 thousand dram was the remaining principal of the apartment mortgage. Deputy Minister Sahakyan directed 8 million 834 thousand dram towards loan repayments.