Armenian government to return 50% of revenue tax to IT companies for new jobs

YEREVAN, MARCH 24, ARMENPRESS. The Armenian governing administration permitted the government guidance process for professional companies and private business owners in the IT sector.

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“With this selection we return 50% of the earnings tax for freshly made work to improve selected circumstances for IT companies,” the State Revenue Committee Chairman Rustam Badasyan said.

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“There are two aims: Initial of all we have a significant group of freelancers who perform in the shadow, at residence, they get the job done beneath many contracts for international businesses and work in the shadow. We offer the kind of circumstances for them to reward from state social credits upon getting registered legally, and that becoming registered will become far more useful than not registered. Secondly, numerous nations around the world fight to keep remarkably skilled IT industry experts and there is big opposition in this sector. Significantly, various privileges exist in both of those European international locations and in CIS countries. For illustration in Uzbekistan, Ga there are various IT sector privileges,” he claimed, introducing that they want Armenian IT firms to be aggressive in this context.

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Companies qualifying for the help method should have at minimum 50 new employment as of March 1. “I imply not the work contracts but the lawful contracts. And for these 50 workforce the organizations ought to not have experienced paid profits tax for the preceding 6 months in advance of March 1. That means, this is about entirely recently opened jobs.”