Discussion with Directors and Accountants of Engineering Association Companies: Ruben Simonyan Provided Details on Amendments in the New Laws

On December 17, a discussion was held at the Engineering City regarding the recently adopted laws "On State Support for the High-Tech Sector" and "On Amendments and Addenda to the Tax Code of the Republic of Armenia." These laws aim to create favorable conditions for technology companies and support the continuous development of the sector.

During the meeting, which was attended by directors and accountants from Engineering Association companies, Deputy Minister of High-Tech Industry of the Republic of Armenia, Ruben Simonyan, clarified several provisions of the laws and provided detailed explanations of their implementation. It was emphasized that these laws are intended to enhance state support tools for the high-tech sector and scientific research, expand the scope of tax privileges, and ensure more favorable conditions for the sector’s growth and advancement.

The meeting continued in a question-and-answer format, where detailed and comprehensive answers were provided to questions on various topics. These included support for migrant workers, tax incentives for attracting new employees, compensation for employee training, and income and turnover tax benefits, as well as other provisions outlined in the laws.

The aforementioned laws, adopted by the National Assembly at the session dated December 4, will come into force on January 1, 2025. With a funding allocation of AMD 29 billion, these legislative changes promise to bring groundbreaking advancements to the technological sector.