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

Electric cars to be exempt from VAT in Armenia

Electric cars to be exempt from VAT in Armenia

PanARMENIAN.Net - Electric cars will be exempt from value-added tax (VAT) in Armenia if they are not re-exported within a year after the day of the import, when amendments to the existing tax code are approved.

The vehicles, according to the proposed changes, cannot be exported to the countries of the Eurasian Economic Union (EAEU).

If approved, the law will enter into force on July 1, 2019 and will remain in effect until December 31, 2030.

According to the document, the bill seeks to promote the use of electric cars in order to help curb air pollution.

 Top stories
The $55 million deal is part of Chaarat’s intention of becoming a major regional player, with an annual production of 1 million ounces.
According to the Fund, the country's economy will grow by 4.8% in 2019 instead of the 3.5% forecasted earlier.
Ghalbourjian Group, in particular, aims to start production of vegetable oil and other additives.
The first meeting of the European Union-Armenia Partnership Committee in Trade configuration under the CEPA.
Partner news