Armenian government plans to cut income tax rate and increase wages and pensions

Armenia’s acting finance minister Vardan Aramyan said today that the government plans to lower the income tax rate and increase wages and pensions.br / br /

YEREVAN, April 26. /ARKA/. Armenia’s acting finance minister Vardan Aramyan said today that the government plans to lower the income tax rate and increase wages and pensions.br

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Speaking to reporters after a Cabinet session he said the government examined various models and came to the conclusion that the best option to reduce social tension is cutting the income tax rate, Aramyan said.br

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He noted that cutting the incomer tax rate under all equal conditions would allow entrepreneurs to increase the salaries of employees by reducing income tax deductions. According to him, this will also allow attracting more qualified labor, and, as a result, may lead to medium-term economic growth.br

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We will soon submit proposals on how to reduce the income tax rate, balancing it with the existing tools so that there are no problems and gaps in the state budget, Aramyan said. He said the government is considering an increase in pensions from 2019.br

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However, everything needs to be implemented in proportion to the existing potential of the country, without attracting additional external loans, Aramyan said.br

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He noted that despite the fact that the last 10 years were not very favorable for the world economy, Armenia was able to raise the minimum social pension from 8,000 drams to 16,000 drams, and the minimum wage from 25,000 drams to 55,000 drams. ($ 1 - 481.96 drams). -0-br

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