ArmInfo. The State Revenue Committee of of Armenia (SRC) is considering the possibility of reducing the income tax to 20%, Deputy Head of the SRC Rafik Mashadyan told journalists.
In this light he stressed that the possibilities in question should exclude losses from the budget in case of a reduction in income tax in the near future. ''The following is mainly discussed: the establishment of income tax at the level equal to the tax on profit, i.e. - 20%. I believe that these changes will be possible from January 1, 2019. As a result of this, of course, there will be losses through the tax revenues, which will amount to 60-70 bln drams. But I believe that they will be transferred to the declared wages, which will eliminate the presence of unregistered workers, and ultimately reduce the shadow economy, "said the deputy head of the SRC.
At the same time he noted that the issue of easing the tax burden on small businesses by reducing the current five tax regimes in the Tax Code to three is being discussed. "This approach implies three tax regimes. This will be a micro business, the enterprises that have a certain threshold. Currently discussions are held on the subject of exemption from taxation for subjects that do not reach this threshold. But I still do not know what indicator will be considered a threshold, and who will work in this field, "R.Mashadyan concluded.
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