A Bill to Exempt Small Businesses from Turnover Tax to be Presented to the National Assembly, Narek Karapetyan

Within two weeks, a law will be proposed to the National Assembly that will exempt small businesses from the turnover tax. This is expected to secure 50,000 new jobs over the next five years. Narek Karapetyan, a member of the "Strong Armenia" party council, stated this during a special preparatory meeting.

“I would also like to mention that we are creating 300,000 new jobs for our people, but Prime Minister Pashinyan’s government has already opened Armenia’s doors to 300,000 Azerbaijanis. Secondly, we will ensure economic conditions for medium and large businesses so that our country becomes the most competitive compared to all the countries in the region. For example, we will create localization programs for medium businesses in Armenia, and programs to develop Armenian products, so that our country produces locally instead of relying on imports.”

“To re-industrialize Armenia, we need significant foreign investments, which we will secure in a very short time,” he emphasized.