YEREVAN, March 5. /ARKA/. The Armenian Parliament approved, in the first reading, a draft amendment to the Tax Code, which extends tax holidays on income derived from shares of private companies for three years.
The author of the draft, Babken Tunyan, a member of the Civil Contract faction, explained that four years ago, in order to develop the capital market, a decision was made to introduce tax holidays to encourage private companies to start issuing shares. He pointed out that the decision was to expire on December 31, 2024, and that additional measures are necessary for the capital market to continue its development.
In this context, after discussions with the Ministry of Finance and the Central Bank, he proposed extending the tax holidays for an additional three years. The decision will be retroactive and will take effect from January 1, 2025.
