Decision on reduction of income tax to be made in coming days – SRC Chairman

There are different scenarios for the reduction of income tax in Armenia, Chairman of the State Revenue Committee Davit Ananyan told reporters after today’s Cabinet session, commenting on the statement of Prime Minister Nikol Pashinyan according to which changes are expected in the Tax Code as a result of which the income tax will be reduced and a symbolic tax will be set for micro-business.

“There are many scenarios, different scenarios are being discussed. There are 8-9 scenarios. At this moment I would not like to release details since each of them contain digital calculations, and these calculations refer to the fact what budgetary losses can happen as a result of the decrease of income tax rates. There is also the second part on what set of tools should be changed in the legislation”, the SRC Chairman said.

Asked when the decrease of the income tax will take place, he said the decisions will be made in coming days. “We will have a common position in the government already in September and will inform the public. In other words, we will make the changes this year in the Parliament”, he added.