ArmInfo. Imposing a profit tax on rural residents will create serious problems for the agricultural sector, with small farms suffering the most. Mesrop Arakelyan, co- founder of the "Country for Life" party, wrote this on his Facebook page.
He noted that, in accordance with the Tax Code, the agricultural sector will be subject to profit tax starting January 1, 2027. It is currently exempt from paying taxes. "The government's decision will create serious problems for the agricultural sector. A significant increase in the tax burden, in turn, will lead to an increase in production costs, which will inevitably impact agricultural prices. All of this will ultimately lead to a decrease in purchasing power and a deterioration in the general well-being of citizens.
"Considering the above, it is necessary to amend the Tax Code, postponing the requirement to tax the agricultural sector for at least 10 years. This will allow the sector to avoid risks and socioeconomic consequences," wrote Mesrop Arakelyan.
