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…).
