Armenia`s Cabinet of Ministers  discussing  new Tax Code 

ArmInfo. The Armenian government is currently discussing conceptual issues regarding the new Tax Code,  there are also specific ideas for transforming the tax system, as stated by Minister of Finance Vahe Hovhannisyan  during a press  conference on June 16. 

He noted that the government's program for 2021-2026 includes plans  for the gradual elimination of tax benefits, as the Cabinet deems them ineffective.

As the Minister pointed out, a discussion on tax changes was held with non-governmental organizations last week. Within the framework of the Tax Council, which includes NGOs representing various stakeholder groups, ideological issues related to this topic were also discussed. At the same time, the head of the Ministry of Finance admits that frequent revision of tax legislation creates a certain discomfort for the business environment, makes Armenia's business environment unpredictable. To address this issue, the minister believes, it is necessary to learn from global experience, where tax  changes are discussed in parallel with the budget document. This will create a correlation between income and expenses. The head of the Ministry of Finance assured that  financial authorities will make every effort to avoid creating additional  stress for small and medium businesses.