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.

Armenia is doing everything possible to keep its companies free from  secondary sanctions - minister
 Thursday, November 30 2023 17:20

ArmInfo.We are doing everything possible to keep Armenian companies from possible secondary sanctions, the  country's Minister of Economy Vahan Kerobyan told reporters today.  He confirmed the information that a group of specialists from the US Finance Ministry, who are involved in monitoring the sanctions policy, visited Armenia.

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EIB expresses its readiness to discuss with Armenian side prospects  for cooperation on implementation of new projects
 Thursday, November 30 2023 16:24

ArmInfo.RA Minister of Finance Vahe Hovhannisyan received the Representatives  of theEuropean  Investment Bank (EIB).  According to the press service of the Ministry of Finance, at the meeting the minister emphasized that the European Investment Bank is one of the important partners in the implementation of infrastructure projects, and emphasized the importance of continuing cooperation with the EIB in a number of  areas, in particular in the areas of energy, education, road construction and export garbage.  

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Civil Aviation Committee has no data on possible withdrawal of Air  Arabia from Armenia`s market
 Thursday, November 30 2023 15:04

ArmInfo. The Civil Aviation Committee of Armenia of the Ministry of Territorial Administration and Infrastructures of Armenia has no data on possible withdrawal of Air Arabia from the Armenian market, Armenia's Deputy  Minister of Territorial Administration Armen Simonyan told ArmInfo. 

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Mher Grigoryan appointed member of ERC Board of Managers
 Thursday, November 30 2023 11:21

ArmInfo.Armenia's Premier Nikol Pashinyan has signed a decree appointing Vice-Premier Mher Grigoryan a member of the Board of Managers of the Eurasian Reinsurance Company (ERC). 

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Road to Upper Lars checkpoint is open for all types of vehicles
 Wednesday, November 29 2023 20:50

ArmInfo. On the Gudauri-Kobi section of the Mtskheta- Stepantsminda-Lars  international road, the movement of vehicles with trailers and semi-trailers has been restored. The customs attache of the Armenian Embassy in the Russian Federation, Vahan Hakobyan, told ArmInfo.

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EAEU membership does not hinder Armenia`s exports EU - Kerobyan
 Wednesday, November 29 2023 16:21

ArmInfo.Armenia's Minister of Economy, Vahan Kerobyan, is convinced that EAEU membership does not  hinder the export of Armenian products to the EU.

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Armenia`s Economy Ministry convenes urgent discussion within EAEU on  situation at Upper Lars 
 Wednesday, November 29 2023 16:00

ArmInfo. The Ministry of Economy of Armenia is studying the publication of "Rosselkhoznadzor"  to understand the degree of non-compliance of Armenian products with  the standards applied by the Russian Federation.

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Armenian authorities` ignoring Russia`s key role in country`s  economic development in conflict with its national interests -  opposition MP
 Wednesday, November 29 2023 11:59

ArmInfo. The Armenian authorities' ignoring Russia's key role in the development of the  country's economy is in conflict with its national interests, opposition Armenian MP Tadevos Avetisyan wrote in his article. 

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ADB stands ready to expand joint programs with Armenia - Masatsugu  Asakawa
 Monday, November 27 2023 15:57

ArmInfo. RA Prime Minister Nikol Pashinyan received Asian Development Bank President Masatsugu  Asakawa.

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Russia-Ukraine conflict factor of Armenia economic growth - official 
 Monday, November 27 2023 11:28

ArmInfo. In the context of the Russian-Ukrainian conflict, a significant flow of capital and  people to Armenia continues, Armenia's Deputy Minister of Finance Vahan Sirunyan stated at a meeting of the Standing Committee on Financial-Credit and Budgetary Affairs, RA National Assembly. 

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Armenia among top five exporters of whiskey to Russia 
 Monday, November 27 2023 10:41

ArmInfo.Armenia entered the list of main importers of whiskey to Russia for the first time. The country became fifth in the list of top five suppliers.

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Deputy Prime Minister of Armenia gets acquainted with Russian-made  electric vehicles
 Saturday, November 25 2023 14:24

ArmInfo. Yesterday, Deputy Prime Minister of Armenia Mher Grigoryan, together with the partners  of the Eurasian Economic Union countries, visited an exhibition of electric vehicles in Moscow, presented within the framework of the "Russia Forum" international exhibition. The press service of the RA government reports.

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Black Friday: FLYONE ARMENIA airline announces 50% discount on air  tickets
 Friday, November 24 2023 16:28

ArmInfo. In connection with the international Black Friday day, FLYONE ARMENIA airline announces a  50% discount on air tickets purchased from November 24 to 26. 

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Armenia, Iraq are working on launching direct flights and simplify  visa regime
 Friday, November 24 2023 13:42

ArmInfo. Armenia and Iraq are working on launching direct flights and simplify the visa regime.  This was stated by Armenian Minister of Economy Vahan Kerobyan on the sidelines of the conference on  Connecting Innovations Armenian-Iraqi Tech Initiative, which took place yesterday in Gyumri.

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In Oct 2023, number of income-generating jobs increased by  approximately 5% compared to Oct 2022
 Friday, November 24 2023 11:53

ArmInfo.In Armenia, the number of income-generating jobs in October 2023 was 730.255.

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Armenia, Switzerland discuss tourism, agriculture and vocational  education cooperation issues 
 Thursday, November 23 2023 18:37

ArmInfo.On November 23, Deputy Ministers of Economy of Armenia Arman Khojoyan and Rafael  Gevorgyan received the delegation led by Barbara Boeni Slaats, Regional Head of Cooperation South Caucasus at Swiss Agency for Development and Cooperation.

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Russian businesswoman Svetlana Ershova becomes owner of 47.6% of  shares of ZCMC, Armenia`s largest copper-molybdenum combine
 Thursday, November 23 2023 17:13

ArmInfo. Russian businesswoman Svetlana Ershova became the owner of 47.6% of the shares of Zangezur Copper Molybdenum Combine  (ZCMC), the largest copper-molybdenum combine in Armenia. 

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Car importers holding protest against tax amendments 
 Thursday, November 23 2023 13:56

ArmInfo.Armenian car importers are holding a protest in front of the government building.  The latter are dissatisfied with the adopted amendments to the Tax Code, which oblige them to pay tax on 20% of net income from the sale of a car. Whereas over the past, at least 10 years, none of the  importers have had a similar level of income, and such changes force  the latter to raise prices for selling cars. 

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Armenia`s premier announces new record number of jobs  
 Thursday, November 23 2023 12:21

ArmInfo.Prime Minister of Armenia Nikol Pashinyan announced a new record for the number of  registered jobs.

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Assistance programme for 100,00 forcibly displaced Nagorno-Kabarakh  Armenians completed
 Thursday, November 23 2023 12:20

ArmInfo.The program of one-time assistance for urgent needs in the amount of AMD 100,000 for  forcibly displaced persons from Nagorno-Karabakh is closed - the amount was paid to 108 thousand 360 citizens, Armenia's Minister of Labor and Social Affairs Narek Mkrtchyan stated at a Cabinet meeting on November 23. 

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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