The government makes positive changes for the benefit of the citizens of the Republic of Armenia and improving the business environment. During the NA extraordinary sitting convened on December 5, the RA Minister of Economy Gevorg Papoyan said this, presenting the draft law on Amending the RA Tax Code.
It is proposed to exempt businesses engaged in the production of agricultural products from paying profit tax until December 31, 2026.
Under the current regulations, the latter are exempt from paying profit tax until December 31 of this year. The draft proposes to extend it until December 31, 2026.
According to the Minister, the adoption of the draft law is conditioned by the main priorities of the state policy in the agricultural sector, passed by the Strategy for 2020-2030 of the main directions ensuring the economic development of the agricultural sector, approved by one of the Government decisions adopted in 2019.
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As a result of the adoption of the draft, an opportunity will be given to improve the main priorities of the state policy adopted in the agricultural sector, in particular, the process of land consolidation and the implemented tax policy, which will contribute to increasing the competitiveness of agriculture.
Narek Ghahramanyan presented the endorsement of the NA Head Committee.
RA NA
