Armenian government is not positive about granting tax holidays
29.04.2020,
15:36
Armenian authorities are extremely negative about the idea of granting tax holidays to businesses, Finance Minister Atom Janjughazyan told an extraordinary parliament meeting today, called to revise downward the budget GDP growth projection due to coronavirus shock.
YEREVAN, April 29. /ARKA/. Armenian authorities are extremely negative about the idea of granting tax holidays to businesses, Finance Minister Atom Janjughazyan told an extraordinary parliament meeting today, called to revise downward the budget GDP growth projection due to coronavirus shock.
Citing the adverse impact of the coronavirus outbreak on the economy, opposition MPs propose that the government grant tax holidays. In particular, they propose that tax holidays be granted in the first place to tourism, which is now in crisis around the world.
"Granting tax holidays is an extreme measure. The government views tax breaks or preferences with a big reservation, since in terms of efficiency they are little productive," said Janjughazyan.
Armenia declared a 30-day state of emergency on March 16 to curb the spread of coronavirus. It also imposed restrictions on free movement of citizens and banned also some types of economic activity. On April 13, the government extended the state of emergency for another month allowing simultaneously some businesses to reopen.
As of April 29, Armenia's confirmed cases of coronavirus have grown to 1,932; 900 patients have recovered and 30 people have died ($1 - 479.63 drams). -0-
Citing the adverse impact of the coronavirus outbreak on the economy, opposition MPs propose that the government grant tax holidays. In particular, they propose that tax holidays be granted in the first place to tourism, which is now in crisis around the world.
"Granting tax holidays is an extreme measure. The government views tax breaks or preferences with a big reservation, since in terms of efficiency they are little productive," said Janjughazyan.
Armenia declared a 30-day state of emergency on March 16 to curb the spread of coronavirus. It also imposed restrictions on free movement of citizens and banned also some types of economic activity. On April 13, the government extended the state of emergency for another month allowing simultaneously some businesses to reopen.
As of April 29, Armenia's confirmed cases of coronavirus have grown to 1,932; 900 patients have recovered and 30 people have died ($1 - 479.63 drams). -0-
