by nerses 

New tax credit for mortgage interest


During a meeting on business environment improvement on September 3, 2014, the Prime Minister approved a proposal to amend the Law on Income Tax to allow for a refund of income taxes paid by taxpayers who take a mortgage loan. Income tax paid by individual taxpayers (including through withholding agents) will be refunded to the extent of interest on mortgage loans taken to acquire residential property developed after January 1, 2014.

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