The new implemented amendments refer to Armenia business sector outside of Yerevan, the capital of Armenia.
According to the new amendments to the Tax Code, small businesses in rural areas having an annual turnover of up to AMD 24 million will be exempted from tax burdens.
The author of the amendments, Mane Tandilyan, a member of Bright Armenia party, emphasized, “This opportunity can be taken, for example, by small catering facilities located in the regions of Armenia, rural shops, as well as families living in villages and having their own small business.”
As Tandilyan mentioned, the rough estimates of those who will benefit from the law reaches almost 1000. The new law will aim to improve the development of micro-enterprises outside of Yerevan fulfilling the goal of being socially oriented.