Armenia to support IT companies in hiring foreign specialists, new  employees and  retraining personnel

ArmInfo. Armenian IT companies will be granted tax preferences for hiring foreign specialists, new  employees, and for retraining personnel. The Cabinet of Ministers approved the procedure for providing state support  at a government meeting on April 17.

Specifically, companies hiring labor migrants will receive state  support equivalent to 60% of income tax.  The same level of support  will be given  to companies hiring new employees.  Additionally,  companies offering training and retraining programs will receive  support equivalent to 50% of income tax for a period of three months.   The state support for labor migrants who are hired workers  amounting  to 60% of  income tax will come into force on January 1, 2026.

Support will also be provided to personnel engaged in high-tech  professional activities, as outlined in the Decree of the Government  of the Republic of Armenia. The  support for these individuals cannot  exceed 50% of the income tax of all employees within the business  entity.  The support process  will be carried out through an  automated platform. The resolution includes a mechanism for appealing  applications for support, and recalculations will be made in case of   adjustments to the support amount. Companies  that are primarily  involved in programming activities, accounting for at least  90% of  their work, will be eligible for support.