YEREVAN, September 11. / ARKA /. Armenian President Serzh Sargsyan signed on Tuesday into law amendments to the law on profit tax.
According to the amendments, the income derived by non-residents from investing in the Armenian government foreign-currency denominated bonds, will be exempt from income tax.
Earlier, Deputy Minister of Finance of Armenia, Suren Karajan said this decision is aimed at encouraging investments of non-residents in the Armenian Eurobonds.
The first issue will be worth $500 million with a ten-year maturity period. The government also chose Deutsche Bank AG, HSBC Bank plc and JPMorgan Securities plc as the underwriters. -0-