ArmInfo.Deputy Head of the Parliamentary Committee on Economic Affairs Babken Tunyan proposes to exempt dividends received by beneficiaries from securities from income tax for another three years.
The bill was discussed in the first reading at the regular meeting of the NA committee of the same name on February 26.
Tunyan recalled that in 2020, in order to develop the capital market, securities issued by private companies and the income received from them were exempted from income tax. The deadline for exemption from tax was set for December 31, 2024.
However, since during this period there was a consistent increase in the number of issuers and the volume of securities placed, respectively, market players expected the extension of the benefit, the deputies decided to exempt bonds from income tax for another three years. The provision will be retroactive and will apply to relations that arose after January 1, 2025.
As stated by the Deputy Minister of Finance of the Republic of Armenia Arman Poghosyan, the government supports the initiative. Certain provisions of the draft law will be discussed between the first and second readings. According to him, the goal is to have a predictable environment for the widespread use of civilized investment instruments and at the same time have equal taxation rules in the sense that similar incomes received from financial instruments that are considered alternative to each other are taxed according to similar rules.
Babken Tunyan reported that representatives of the field have made various proposals. In this regard, a working discussion will be organized from the first to the second reading, and the necessary corrections will be made.
The issue received a positive conclusion from the commission.
