Thursday, May 18 2017 21:00
Naira Badalian

Inactive real estate in Armenia will be subject to progressive tax

Inactive real estate in Armenia will be subject to progressive tax

ArmInfo. Inactive real estate in  Armenia  should be taxed with a progressive tax. The relevant offer  was made by the head of the Armenian Government Karen Karapetyan on  May 18 at the Government session. At the same time, as he noted, the  additional tax burden  should not be applicable to running business

According to the Prime Minister, in the whole territory of Armenia  there are a lot of real estates, which are inactive, despite the  great potential to  create  an additional price. He asked the acting  Minister of Finance Vardan Aramyan, whether the accounting of  "non-working" property was carried out. "We talked about this and  there is a point in the Government's agenda. We also agreed to pay  special attention to Lake Sevan and the center of Yerevan,  "Karapetyan recalled.

Vardan Aramyan stated that "homework" has been carried out to create  the appropriate tools, in particular through various mechanisms of  additional taxation. It is possible that with taxation of property,  its location will be taken into account. He promised to submit a  detailed report in the near future. Already after the meeting of the  Government and active Finance  Minister he told the journalists  that  it is planned to carry out not only the accounting of property, but  also its revaluation and bring it in line with market value.

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