ArmInfo. The Armenian government is reviewing tax benefits for mortgage lending. The corresponding decision was made on November 23 at a meeting of the Cabinet of Ministers of the country.
Finance Minister Vardan Aramyan recalled that, according to the current law, regardless of the identity of the buyer and the number of transactions with housing, interest on a mortgage loan was returned at the expense of the state budget and taxpayer's funds. "We decided to narrow the circle of beneficiaries, considering that only low and medium-level social actors should take advantage of this opportunity," Aramyan said.
According to him, limitations are included in this initiative. In particular, interest will not be compensated for a transaction exceeding 55 million AMD. This possibility cannot be used also if the person or co- borrower purchases a second apartment.
