Armenian President signs into law bill exempting non-residents from profit tax who invest in eurobonds

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11.09.2013, 11:17

Armenian President Serzh Sargsyan signed on Tuesday into law amendments to the law on profit tax.

Armenian President signs into law bill exempting non-residents from profit tax who invest in eurobonds

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-

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