// IP Marketing video - START// IP Marketing video - END

Armenia among 20 countries with lowest tax rates: report

Armenia among 20 countries with lowest tax rates: report

PanARMENIAN.Net - The PricewaterhouseCoopers and the World Bank Group unveiled the Paying Taxes, a joint report investigating and comparing tax regimes across 189 economies, ranking them according to the relative ease of paying taxes.

With a total tax rate of 19.9%, Armenia ranks 17th among the 189 countries. The only post-Soviet country with a lighter tax burden is Georgia, which boasts a 16.6% total tax rate and the 13th place in the rankings.

Despite the low tax burden, however, tax payments in Armenia take 313 hours to comply, with the United Arab Emirates, Qatar and Luxembourg topping the list in this category.

Armenian businesses make 10 tax payments per year, against the 5 and 7 payments in Georgia and Azerbaijan, respectively.

 Top stories
Foreign trade turnover amounted to $1.46 billion in the first four months of 2016, growing by 4,2% against the same period in 2016.
“One of my priorities, as Ambassador, is to further develop our bi-lateral economic ties,” said U.S. Ambassador to Armenia Richard Mills, Jr.
Azerbaijan’s aggression against Nagorno Karabakh failed to strike a blow to Armenia’s economy, the Minister of Economy said.
Total underground mineral resources comprised 4.3 million tons of ore, averaging 4.2 grams per ton for 0.6 mln ounces of gold equivalent.
Partner news