Shoemakers, tailors and watch-repairers to be exempt from taxes in Armenia

Under the Law of Armenia on Tax Preferences for Self-Employed Citizens, 23 types of activities will be exempt from taxation. 800 people have been already entitled to this right. The law envisages tax exemption for the enterprises with the turnover not exceeding AMD9million. The regulation took its effect on January 1, 2017.

The aforesaid implies that shoemakers, tailors, watch-repairers, foreign language tutors, computer/washing machine repair technicians, will be exempt from taxes. They will pay taxes only in case of import of goods.

The aforesaid decision has been made to facilitate small business development. From now on, the State Revenue Committee will focus on the activity of bigger entrepreneurs, those who work in the shadow.

As Tert.am media outlet reported, about 2,000 self-employed persons were registered in Armenia as of 2016, and the amount of allowance provided to them will total about AMD 400 million.