Government Will Review Tax Code

  • Country - 13 October 2016, 22:11
The government will review the Tax Code again, the deputy minister of economic development and investments Emil Tarasyan told reporters today. He did not deny that some clauses in the new Tax Code cause worries.

Note that entrepreneurs raise concerns about the harms that the tax code effective as of 2018 will do to business. “A lot of concerns have been expressed, we are working. And now our Ministry is analyzing the Tax Code to figure out the strands that may cause obstacles to economic growth,” Emil Tarasyan said.

He said the entire code will be reviewed until its effective date, the weakest points that may have a negative impact on the economy will be reviewed.

In answer to the question whether the legislation will be changed again, he said: “I can’t tell on behalf of our ministry because the line ministry is the Ministry of Finance, considering the priorities of the government program. In case the Tax Code is in line with the new program of the government, it will be left [as it is] but it there is a need for change, we will come up with a new a initiative.”

In answer to the question which particular clause causes concerns, Emil Tarasyan said the IT workers raised concerns that the new income tax threshold may cause high paid specialists to look for employment abroad.

“These concerns are currently being discussed, we must take into account how many subjects are concerned. If this issue has a big scope, there may be a need for change,” the deputy minister said.