With the package of draft laws, it is proposed to extend the provision of state support in the form of tax relief to the bankrupt companies in the sphere of information technologies in the Republic of Armenia for another year, until December 31, 2024 including, as well as to create appropriate legal grounds so that the RA Ministry of High-Tech Industry, taking into consideration the development priorities of the sector and the necessity to provide state support to the sector at the moment, elaborate and present new support programmes for debate to the RA Government.
The RA Deputy Minister of High-Tech Industry Davit Sahakyan said this presenting for debate in the first and then the second reading the package of draft laws on Making Amendments and Addendum to the Law on State Support of the Information Technology Sector and on Amending the RA Tax Code at the extraordinary sitting of the Parliament on December 22.
Davit Sahakyan also answered the deputies’ questions, which were related to the extension of the current law, the problems of the IT sector, etc.
During the exchange of ideas, the NA Vice President Hakob Arshakyan, highlighting the extension of the current law, noted that this year the sector’s turnover will exceed 640 billion AMD, which will be more than 7% of the GDP (gross domestic product) and more than 50.000 employees in the sector.
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According to Hakob Arshakyan, the High-Tech Industry sector is considered one of the proper tax-paying sectors.
He stated that a more systematic law should be developed within the next 6 months. According to him, the problem is with the foreign market.
The Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan mentioned that the income tax regime will be preserved with the legislative initiative, but it will not be preserved in relation to the profit tax.
The MP stated that an agreement was reached during the debate with the RA Prime Minister to have legislation by June 2024, which will comprehensively solve the problems of this field, not only in the IT sector, but also in high technologies. According to Babken Tunyan, these high technologies apply to all the branches of the economy.
As a result of debate, the Parliament adopted the legislative package.
National Assembly of the Republic of Armenia
