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.

Preparations for EBRD conference discussed in Armenia  
 Thursday, November 23 2023 10:21

ArmInfo. Chief of Staff of the Prime Minister Arayik Harutyunyan received Oleksandr Pavlyuk,  Senior Political Adviser at the European Bank for Reconstruction and Development (EBRD).

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RA President: Iraq is Armenia`s important and reliable partner of  Middle East; Yerevan is interested in developing bilateral agenda  with Baghdad
 Wednesday, November 22 2023 18:05

ArmInfo.There is a special dynamic in Armenian-Iraqi relations today. The bilateral agenda is quite extensive and includes many areas of cooperation - from trade and economic relations to the educational, cultural, humanitarian, and information technology sectors. RA President Vahagn Khachaturyan stated at a joint briefing with Iraqi President Abdul Latif Rashid.

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Road from Georgia to Russia through Upper Lars checkpoint is closed  for trucks
 Tuesday, November 21 2023 20:10

ArmInfo. The road through the Upper Lars international checkpoint (Georgian-Russian border) is open  only to passenger cars.  Customs attache of the RA Embassy in Russia Vahan Hakobyan told ArmInfo correspondent.

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Armenia to extend VAT exemption for imported electric vehicles for  one year   
 Tuesday, November 21 2023 14:26

ArmInfo.Armenia will extend the VAT exemption for imported electric vehicles for a year.  Armenia's parliament is considering a bill on introducing amendments to the Tax Code.

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As of Nov 20, 2023, Armenia`s tax revenues 17.2% more as against same  period 2022 
 Tuesday, November 21 2023 11:35

ArmInfo. As of November 20, 2023, the consolidated budget of the Republic of Armenia received AMD  1,919.5bln in tax revenue, which is 86.8% of the adjusted annual figure of AMD 2,211.4bln. 

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Construction of southern section of North-South transport corridor  discussed in Armenia 
 Tuesday, November 21 2023 11:31

ArmInfo.Representatives of Armenia and Iran at a meeting on November 21 discussed details of  the construction of the fourth section of the North-South transport corridor, reported the press service of the Ministry of Territorial Administration and Infrastructures of the Republic of Armenia.

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Armenia`s minister of economy, Finnish diplomats discuss  establishment of business ties between Armenia and NB8
 Tuesday, November 21 2023 11:22

ArmInfo. Armenia's Minister of Economy Vahan Kerobyan hosted Ambassador of Finland to Amenia  Kirsti Narinen and Finland's Honorary Consul in Armenia Timothy Straight.

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Armenia`s ministry of finance, EBRD to combine efforts to hold EBRD`s  Annual Meeting in Yerebvan at high level 
 Tuesday, November 21 2023 11:20

ArmInfo. Armenia's Minister of Finance Vahe Hovhannisyan hosted a delegation led by Mr Kazuhiko  Koguchi, Secretary General of the European Bank for Reconstruction and Development (EBRD). Attending the meeting were also Ms Stefania Galbiati Ball, Head, Annual Meetings, Protocol and Event Management  Unit at EBRD, and Mr George Akhalkatsi, Head of EBRD Yerevan Resident Office. 

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Vahan Kerobyan: number of labor migrants from India does not exceed  30 thousand people in Armenia
 Monday, November 20 2023 17:49

ArmInfo. In Armenia, the number of labor migrants from India does not exceed 30 thousand  people. Armenian Minister of Economy Vahan Kerobyan told reporters during a briefing on November 20, citing official sources.

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Minister of Economy: Tourism will focus on quality rather than  quantity
 Monday, November 20 2023 13:17

ArmInfo. Tourism in Armenia will be focused on quality rather than quantity. Armenian Minister of  Economy Vahan Kerobyan told reporters during a briefing on November 20 after a meeting of the Standing Parliamentary Committee.

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Open borders are always better than closed ones - SRC head on  possibility of opening Armenian-Turkish border
 Friday, November 17 2023 13:35

ArmInfo.Open borders are always better than closed ones.  Chairman of the State Revenue  Committee of the Republic of Armenia Rustam Badasyan told reporters on November 17, commenting on the possibility of opening the Armenian-Turkish border.

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EFSD to provide $100mln to Armenia for covering budget deficit 
 Friday, November 17 2023 12:56

ArmInfo.In the medium term, the Armenian government plans to annually attract budget loans in the amount of $300-350 million. On November 17, the Cabinet of Ministers of Armenia approved a proposal to sign an agreement between the Government of the Republic of Armenia and the Eurasian Development Bank to provide a loan in the amount of $100 million.

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High-rate economic growth in Armenia result of Russia-Ukraine  conflict, opposition MP claims  
 Thursday, November 16 2023 15:11

ArmInfo.Armenia has turned into a car transit country, Artur Khachatryan, a member of the opposition  faction Armenia, RA Parliament, stated as he commented on the 2024 draft budget. 

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Armenia`s government plans measures to put end to abject poverty 
 Thursday, November 16 2023 15:08

ArmInfo.Armenia's Ministry of Labor and Social Affairs plans measures to put an end to abject  poverty in Armenia, Minister Narek Mkrtchyan stated as he commented on Armenia's 2024 draft budget. 

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Armenia`s 2024 draft budget historic - premier 
 Thursday, November 16 2023 15:07

ArmInfo. The draft state budget of Armenia for 2024 is a historic document of historic times,  Armenia's Premier Nikol Pashinyan stated at the parliamentary discussions of the 2024 draft budget on November 16.  

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Armenia`s reputation as stable and reliable partner will continue to  strengthen - Deputy Prime Minister
 Wednesday, November 15 2023 18:33

ArmInfo.The projects implemented in Armenia jointly with international partners are very  important in terms of their financial component, but the application of the best foreign standards in the country is more important. Deputy Prime Minister Mher Grigoryan announced on November 15 from  the rostrum of the RA National Assembly.

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Crossroads of Peace initiative must become reality not only for  Armenia, but also for other regional states - Vahe Hovhannisyan
 Wednesday, November 15 2023 14:44

ArmInfo.The Crossroads of Peace initiative must become a reality not only for Armenia, but also  for the other states in the region, Armenia's Minister of Finance Vahe Hovhannisyan stated in Parliament. 

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Armenia`s economy highly resilient despite challenges - Vahe  Hovhannisyan  
 Wednesday, November 15 2023 11:10

ArmInfo.Despite the difficult challenges, joy everyone's joy, the economy of Armenia displayed and continues displaying a fairly high resistance, including the effective macro-economic policies and equivalent actions being continuously implemented by the Government and the Central Bank. The RA Minister of Finance Vahe Hovhannisyan said on November 14, presenting for debate in the National Assembly the draft  law on RA State Budget for 2024.

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Diplomat: Indonesia is interested in cooperation with Armenia in  field of medical tourism
 Tuesday, November 14 2023 18:59

ArmInfo.Indonesia is interested in cooperation with Armenia in the field of medical  tourism. Ambassador of Indonesia to Armenia Arif Muhamad Basalamah stated during a meeting with the Deputy Minister of Economy of Armenia Rafael Gevorgyan.

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FLYONE ARMENIA develops business aviation
 Tuesday, November 14 2023 18:40

ArmInfo. FLYONE ARMENIA airline is developing business aviation in Armenia. According to the company's press service, the national air carrier FLYONE ARMENIA becomes the first to be able to provide premium class services in Armenia and abroad, tailored to the needs of business and corporate travelers.

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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

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"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2