Legislative reforms aimed at leasing development in Armenia

Based on a number of researches, as well as taking into account the intention of European Bank for Reconstruction and Development to promote the development of leasing in Armenia, from the beginning of 2014 Business Support Office-Armenia launched leasing-related legislation amendments’ project and undertook several activities and events.

At the end of 2014 the Business Support Office experts met with representatives of all leasing providing banks and leasing organizations, revealed legislative and practical problems, which are impeding ...

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Business Incubator establishment in Armenia

In September 2016 the Business Support Office together with EU BIC international expert in the field of incubation launched a workshop discussions with the Private and Public stakeholders on the initiative of establishment of a Businesss Incubator in Armenia.  The insitiative has been earlier voiced in course of the RA SME Development Council meeting chaired by the RA Prime Minister and is planned to be discussed in detail in order to better understand the business community needs and ...

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BSO consultants took part in Regulation Delivery International Conference in London

   October 10-13th was marked with the BSO consultants participation in Regulation Delivery International Conference in London, UK. The conference provided a unique opportunity for more than 200 delegates from 50 countries to network communicate and share their experience in terms of working on regulation delivery and legislative reformes aimed at business environment improvement in their countries.

   Special attention was paid at inspection reform processes in different countries, their progress, and the BSO, on its part introduced the ...

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IT sector start-ups will be provided with state support for 3 years

IT sector start-ups providing their own IT product will be granted with privileges.

The RA Government approved the draft law on IT sector state support, defining the principles of state support to IT start-up companies. In particular, the licensed companies will be paying 0 % profit tax and 10 % income tax, which will essentially contribute to the increase of new companies in the field and will have a positive impact in terms of employment.

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Clarification of Article 205 of the RA Criminal Code

Scales of justice and gavel on desk with dark backgroundThe issue related to the application of the criminal legislation by the tax authorities  has been presented by the businesses to the Secretariat of the SME Development Council.

In particular, the Article 5 of the RA law “On organizing and conducting inspections in the Republic of Armenia” defines that  for administrative ...

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“Family business” classification and exemption from taxes

Teamwork and corporate profit Nowadays many families make living by means of family businesses (retail trade, small productions, services), which in comparison with classical business provides exceptionally the primary / essential requirements of those families.

“Family business” is the kind of business type which is conducted exclusively by family members. The BSO experts have carried out researches, as a result of ...

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Оn decreasing the amount of patent fee set for real estate companies

Since January 1 2013 the taxation mechanism for companies providing realtor services has changed and instead of paying profit tax the companies have to acquire a patent (license) for each employee equivalent to 60.000 AMD per month, which has substantially increased the payable taxes for those companies. The vast majority of the 120 registered real estate companies in RA are classified as SMEs that is why this decision was a considerable burden for them.

After holding a number of consultations and ...

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