Armenia’s IT sector grew last year by 17%, economy minister says

YEREVAN, February 3. /ARKA/. Armenia’s IT sector grew last year by 17%, economy minister Karen Chshmarityan said today.

"The year was successful for some 450 IT companies operating in Armenia, which employ about 13,000 people.  The total turnover of the sector was $ 550 million," the minister said.

According to him, after the entry into force of the law on government support for IT companies in 2015, providing for a zero rate of income tax and a 10% profit tax for qualified start-up companies, 79 new companies with 329 employees were founded.

He said certificates, providing for tax breaks were given also to 64 newly formed companies, employing 283 people.  The progressive income tax starts from 24% in Armenia. 

According to Chshmarityan, there are good preconditions for IT companies to boost ties with foreign companies in 2016, especially in Iran. -0-

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18:59 02/03/2016