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On May 25, the National Assembly debated in the second reading and completely passing the draft law on Amending the RA Tax Code and on Making Addendum to the RA Law on Amending the law on Making Amendments and Addenda to the LA-266-N on Making Amendments and Addenda to RA Tax Code of 21 December 2017 authored by the Government.

According to the key rapporteur, the RA Deputy Minister of Finance Arman Poghosyan, the subject of regulation relates to the extension of the privileged period for applying 5% or 2% rate of the reduced profit tax for the companies being included in the group of the organizations implementing export programmes approved by the Government: As a result of negotiations with the colleagues of the EU member countries, Armenia got the right to work for eight more years in the privileged environment.”

The initiative proposed to extend the privileged period limited by the law passed in June 2018, setting it until 31 December 2029.

The MPs did not submit any proposal from the first to the second reading. The Government submitted a proposal of only editorial character on the basis of which the initiative was revised.

Hayk Gevorgyan presented the endorsement of the NA Standing (Head) Committee on Economic Affairs.