Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister

 Friday, May 17 2024 19:30:00
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister

ArmInfo.On May 17, the NA Standing Committee on Economic Affairs debated the draft law on Making  Amendments and Addenda to the RA Tax Code with the attached legislative package in the first reading. It was presented by the RA Deputy Minister of Finance Arman Poghosyan, the press service of the  RA NA reports.

Minister of Economy: It is necessary to diversify export  destinations, rather than trying to find ways in one direction
 Monday, January 8 2024 17:43

ArmInfo. In 2 months, the Ministry of Economy of Armenia will present a new export strategy,  the main goal of which is the export of high-standard products that are in demand in numerous countries. Armenian Minister of Economy Vahan Kerobyan stated during a press conference on Monday.

>>>
Tehran: development of trade and transit cooperation cannot become  basis for geopolitical changes in region
 Monday, January 8 2024 16:01

ArmInfo. The development of trade and transit cooperation cannot become a basis for geopolitical  changes in the region. This was stated by Spokesperson of the Iranian Foreign Ministry Nasser Kanani, commenting on the statement of the Turkish Minister of Transport regarding the establishment of a  corridor through the Syunik region of the Republic of Armenia.

>>>
Yerevan mayor announces bill to effectively combat illegal  construction
 Monday, January 8 2024 14:17

ArmInfo. Yerevan is preparing a bill to effectively combat illegal construction and seizure of land, Yerevan Mayor Tigran Avinyan stated at a working meeting of the Council of Elders on January 8.

>>>
French Development Agency to allocate EUR 1mln to health system in  Armenia`s Syunik
 Monday, January 8 2024 14:07

ArmInfo.France, through the Agence Francaise de l'AFD - Agence Francaise de D‚veloppement, supports the AGBU (Armenian General Benevolent Union) for the improvement of the health system in Syunik. Thanks to an AFD grant of 1 million euros, AGBU, via the intervention of Sante Armenia, is aiming for three objectives:

>>>
Changes in ANIF management 
 Monday, January 8 2024 12:37

ArmInfo.The Armenian National Interests Fund (ANIF) has announced changes in its management staff. On the initiative of the Ministry of Economy, changes were made to the management staff, including the board of  directors of ANIF. Previously the Board of ANIF was chaired by Dominique de Villepin, former PM of and Minister of the Interior of France. 

>>>
Authorized capital of national air carrier of Armenia has been replenished, Ministry of Economy reports
 Friday, January 5 2024 18:01

ArmInfo. The authorized  capital of National Airlines of Armenia CJSC (Fly Arna) has been  increased by 2,011,050,000 drams. This was reported by the press  service of the Ministry of Economy.  According to the source, the  decision was made on December 25 last year at the general meeting of  shareholders of the company.

>>>
From January 1, 2024, people with disabilities in Armenia may use service of personal assistant
 Thursday, January 4 2024 17:58

ArmInfo. From January 1, 2024,  persons with disabilities will be provided with the service of a  personal assistant. The decision was made on January 4 at a meeting  of the Cabinet of Ministers.

>>>
Government of Armenia determines conditions for providing additional payment for academic degree
 Thursday, January 4 2024 14:56

ArmInfo. Scientific workers with  an academic degree involved in budgetary basic programs and working  full time from January 1, 2024 will receive an additional payment.  The decision was made at a meeting of the Armenian Cabinet of  Ministers on January 4.

>>>
Electronic income declaration system of RA citizens to start functioning no earlier than March 2024- SRC head
 Thursday, January 4 2024 14:13

ArmInfo.In Armenia, those  persons who are subject to the mandatory declaration of their  incomes, when entering the electronic system, will notice that some  parts of the application will be pre-filled. Chairman of the State  Revenue Committee of the Republic of Armenia Rustam Badasyan told  reporters on January 4.

>>>
Based on last year`s results, significant improvement in ratio of taxes to GDP in Armenia to be recorded - SRC chief
 Thursday, January 4 2024 12:49

ArmInfo. According to the  forecasts of the State Revenue Committee of the Republic of Armenia,  according to the results of last year, a significant improvement in  the ratio of taxes to GDP in Armenia will be recorded. The head of  the department, Rustam Badasyan, stated on January 4 in a  conversation with reporters.

>>>
Armenia extends ban on export of raw leather
 Thursday, January 4 2024 11:53

ArmInfo. Armenia's Cabinet has  extended the ban on the export of raw leather once again.   As noted in the explanation to the document, currently local  industrial companies engaged in leather processing in Armenia have a  demand for leather raw materials, and the capabilities of the raw  material base are still not fully used.

>>>
Chairman of Urban Development Committee dismissed
 Thursday, January 4 2024 11:39

ArmInfo. Chairman of the Urban  Development Committee Armen Ghularyan has been dismissed.

>>>
Lori governor dismissed
 Thursday, January 4 2024 11:31

ArmInfo. Governor of Lori Province Aram Khachatryan has been dismissed. 

>>>
Armenia`s premier visits Lori, inspects construction programmes
 Thursday, January 4 2024 11:03

ArmInfo. Prime Minister Nikol Pashinyan  visited Lori Province and got acquainted with the progress of the  projects implemented in communities funded by the Government.

>>>
Armenia`s GDP to reach 8% to 8.5% in 2023 - expert
 Thursday, January 4 2024 11:00

ArmInfo. Armenia will close 2023  with GDP growth in the range of 8- 8.5%, instead of the 7% planned by  the state budget and the 7.2% expected by the budget for 2024. At the  same time, the country's GDP generation potential, as before, does  not exceed 5%, Armenia's former minister of finance Vardan Aramyan  told ArmInfo. 

>>>
We collected more than planned: SRC summarizes 2023
 Wednesday, January 3 2024 16:15

ArmInfo. The State Revenue Committee of Armenia (SRC) summed up the results of 2023 with tax revenues in the amount of 2 trillion 221.9 billion drams, exceeding the previous year by 295.9 billion drams or 15.4%.

>>>
Team Telecom Armenia sums up 2023
 Friday, December 29 2023 14:50

ArmInfo. Team Telecom Armenia summed up the results of 2023, which was marked by the company's entry into the capital market, the construction of a new generation network, the re-equipment of mobile stations, the launch of the Team Energy project and a number of other initiatives.

>>>
Vedi reservoir should be operational by spring of 2024 - Sanosyan
 Friday, December 29 2023 14:09

ArmInfo. By the spring of 2024, the Vedi reservoir should be operational and begin to fill with water.  Minister of Territorial Administration and Infrastructures of the Republic of Armenia Gnel Sanosyan stated at a press conference on December 29.

>>>
IT sector`s revenue AMD 536bln by end of October 2023
 Friday, December 29 2023 12:16

ArmInfo. At the end of 10  months of 2023, the revenue of the information technology sector in  Armenia reached AMD 536bln, while for the entire 2022 the volume  amounted to AMD 555bln, Deputy Minister of High-Tech Industry David  Sahakyan stated at the 12th Security Forum of the Armenian Institute  of International Relations and Security, where participants discussed  the problems of development of the high-tech industry.

>>>
Every third passenger arriving in or departing from Armenia client of national airlines - minister
 Friday, December 29 2023 12:07

ArmInfo. Every third  passenger arriving in or departing from Armenia uses the services of  national airlines, Armenia's Minister of Territorial Administration  and Infrastructure Gnel Sanosyan told reporters on December 29.

>>>

News
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of servicesArmenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services
Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 millionLarge crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
Eurowings launches Berlin-Yerevan-Berlin flightsEurowings launches Berlin-Yerevan-Berlin flights
Russia bans sugar exports; 28 thousand tons allowed to be exported to  ArmeniaRussia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
Read more


Exchange rates
17.05.2024
RUB4.26-0.01
USD387.60-0.49
EUR420.12-1.81
GBP490.31-1.36
CAD284.16-0.61
JPY24.87-0.22
CNY53.63-0.14
CHF426.22-3.84


Experts
Expert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisionsExpert: When there is no trust between private and public sectors,  unfortunately, there is no need to talk about right decisions
Expert on Armenia`s international trade growth against Expert on Armenia`s international trade growth against "miserable  trade pattern"  
Expert: Armenia should use Georgian, Turkish transit opportunitiesExpert: Armenia should use Georgian, Turkish transit opportunities
Read more

Commented
Yerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientistYerevan is trying to demonstrate to its Anglo-Saxon `bosses` its  readiness to reduce economic cooperation with Iran - political  scientist
Gevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in ArmeniaGevorg Mantashyan: High-Tech Ministry makes consistent efforts for  emergence and progress of startups in Armenia
Bank of Georgia announces proposed acquisition of Ameriabank for  $303.6 millionBank of Georgia announces proposed acquisition of Ameriabank for  $303.6 million

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2