Armenian Parliament to hold hearings on information technologies

YEREVAN, February 13. /ARKA/. The Armenian Parliament's Committee on Economic Affairs decided today to hold hearings on March 5 on the IT sector.

"At the end of last year, a package of tax benefits intended for the IT sector was extended for one year, " said Babken Tunyan, head of the committee.

He noted that an agreement was reached that this year a legislative package will be prepared in Armenia, which envisages comprehensive and long-term solutions for regulating the IT sector.

Representatives of various departments, business associations, unions and companies related to the industry will be invited to the session. 

In December 2023, the Armenian parliament extended tax benefits for IT startups for another year (until the end of 2024), providing for the preservation of income tax at the rate of 10% (for other sectors of the economy it is 20%).

According to government data, from 2015 to November 8, 2023,  some 2,304 newly established technology companies received tax breaks, of which 1,633 were established last year. --0-- 

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15:38 02/13/2024