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As of today, there are 40.000 Limited Liability Companies (LLCs) operating in Armenia, which, according to the current law, divide their profits among the company’s participants once a year. And in the law on Limited Liability Companies it is proposed to carry out profit distribution once a quarter. The RA Minister of Economy Vahan Kerobyan said this presenting the draft law for debate in the first reading at the regular sitting of the National Assembly on June 13.

According to the Minister, the opportunity to distribute the profit more often among the participants corresponds to the international experience and accepted business customs.

The co-rapporteur, the member of the Standing Committee on Economic Affairs David Arushanyan called on his colleagues to vote for it.

The Deputy Chair of the Standing Committee on Economic Affairs Babken Tunyan mentioned that it is necessary to interfere less in business affairs, which is accepted in the international business environment. According to him, the draft law provides flexibility to the activities of the LLCs and gives the opportunity to freely and purposefully manage the profits.