An Analysis and Comparison of the Armenian and Australian Economies

Monday, May, 18, 2020

An Analysis and Comparison of the Armenian and Australian Economies

Monday, May, 18, 2020

What are the differences between these economic policy roadmaps?

    Armenia implemented several reforms related to entrepreneurship during 2019. One key change was the adoption of a tax reform package, which will be enacted in January 2020. A major component of this tax reform is the doubling of the allowed turnover tax threshold — which will increase to a total of 115 million Armenian drams (AMD). Additionally, micro-businesses with an annual turnover of up to 24 million AMD are exempt from taxation starting in January 2020. Additionally, tax rates will transition from their current tiered system to a flat income tax rate of 23%, also effective January 1, 2020.

    Another key policy change, which was enacted following the Velvet Revolution of April–May 2019 that resulted in a new government regime, is the guaranteeing of equal market access for all people. This will create a more favourable business environment and is expected to boost overall economic activity in the country. (Read more…).

Get our latest updates straight to your inbox!

Recent Posts

The journey towards humane entrepreneurship was initiated five years ago by ICSB. Mr. Yvon Chouinard forfeited ownership of Patagonia today as the profits will now be used to fight climate change. This is the essence of Humane Entrepreneurship. It is Entrepreneurship for Humanity

Small businesses in the age of COVID-19 continue to have concerns as many re-open. Three (3) concerns are on the top of mind for many businesses. These include regulations, digitization, and access to networks.

Load More