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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.

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He said that his government would also focus on fighting corruption and "eliminating all barriers that impede business from developing".
“We have a simple problem:we prepare 400-500 specialists each year, while there is demand for 2000 professionals," he said.
At Shirak airport in the northern Armenian town of Gyumri, traffic soared by 150% in the reporting period against 2016.
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
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