Parliament adopts migrant workers' income tax bill in 1st readingMay 6, 2015 - 18:14 AMT PanARMENIAN.Net - Armenia’s parliament passed, in the first reading, draft amendments to the profit tax and income tax laws at its special session on Wednesday, May 6, ARKA reports. According to the amendments, Armenian citizens working abroad will be able to pay income tax of up to 13% in their home country. 65 MPs voted in favor of the bill, 16 voted against it and 21 abstained. In commenting on the bill in the parliament on Many 5, deputy minister of finance Vakhtang Mirumyan said the amendments would encourage Armenian citizens employed abroad to get registered in their home country and enable them to pay income tax in Armenia. In particular, the amendments stipulate for lowering the income tax to 13%. The amendments to the profit tax and income tax laws will enable exporters to also deal with transit shipment of goods, including those for processing and re-export. Mirumyan said these changes will only apply to the companies with government-approved investment programs. According to him, the proposed changes are meant to boost Armenian exports. "By this, the government encourages Armenian citizens working abroad to register and pay income tax in their home country,” Mirumyan said. Under the law adopted by the parliament on March 3, the income tax for major exporters was cut tenfold to 2%. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |