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Tax policy changes are proposed in 4 main directions according to the package of the legislative package on Making Amendments and Addenda to the RA Tax Code and on Making Amendments to the RA Civil Code. The RA Deputy Minister of Finance Arman Poghosyan informed about this during the NA regular sitting convened on November 15.

The Deputy Minister, enumerating the main directions, detailed that the first is the review of the rules for determining the minimum amount of the value-added tax (VAT) and profit tax bases for the transactions of alienation of buildings, constructions, including unfinished, semi-constructed plots of land. The next direction implies the formation of equal conditions between resident organizations and non-resident organizations in the context of all those transactions, when the organizations acquire a share, and after some time, alienate it. The third direction implies that equal conditions are again ensured between the loan and leasing instruments with the logic that when the leasing company acquired the property owned by an individual and then leases it to another individual, then the leasing companies, as tax agents, do not pay income tax. The latest change implies a reduction in the scope of privilege for leasing companies, with the logic of ensuring equal conditions compared to other companies.

The Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan presented the endorsement of the Committee, noting that it was endorsed with reservation. According to him, the solution proposed by the banks regarding the new cadastral values ​​ needs to be discussed again. Babken Tunyan emphasized that the banks noticed these problems months ago, and now the market values ​​ have significantly increased. “We think that the cases when the citizens complain that newly approximated cadastral values are much higher than the real market values of their properties are no longer relevant,” he noted.