ArmInfo. The Armenian authorities aim to decrease the financial and administrative burdens on companies engaged in foreign economic activity. At the plenary session of the National Assembly of the Republic of Armenia on  January 21, amendments to the laws "On the Export of Dual Purpose  Goods, Their Transit Transportation through the Republic of Armenia,  as well as Control Over the Transfer of Dual Purpose Information and  Intellectual Activity Results " and  "On licensing" were discussed in  the second reading.  According to the Minister of High-Tech Industry  of the Republic of Armenia, Mkhitar Hayrapetyan, the goal of the  legislative initiative is to reduce additional administrative and  financial costs and improve the business environment, particularly  for companies in the technology sector. The purpose of the bill is to  establish a legal foundation for publishing a list of goods that have  undergone the examination and are not classified as dual-use or  military items. This will simplify customs clearance procedures based  on the published list.

ArmInfo.In the insurance market of Armenia, the loss ratio for MTPL for 2024 increased from 71.7% to 81.8%. This is evidenced by the data of the Bureau of Motor Insurers of Armenia.

ArmInfo. Dairy products with and without milk fat substitutes will have to be distinguished by color in retail outlets in Armenia. At the plenary session of the National Assembly of the Republic of Armenia on January 21,  amendments to the Law on Trade and Services and the Code of  Administrative Offenses were discussed in the first session.

ArmInfo.  2024 marked a significant period of transformation for the “Power of One Dram” initiative. By the end of the year, the project’s total budget surpassed the 200-million-dram milestone, with last year alone contributing a record-breaking 50 million drams. This remarkable achievement reflects the growing number of supporters joining our mission to improve education, healthcare, address social issues, and protect the environment.

ArmInfo. As a result of the easing of some restrictions, opportunities for Armenian pension funds to invest the population's funds in the real sector of the economy will be expanded. The National Assembly of the Republic of Armenia is discussing amendments to the law "On funded pensions" in the first reading at a plenary session on January 21.

ArmInfo. All non-public funds in Armenia will be subject to the requirements of the Central Bank. At the session of the National Assembly of the Republic of Armenia on January 21, amendments to the law "On Investment Funds" and a package of related laws are being discussed in the second and final reading.

ArmInfo. Fines and penalties for property tax assessed due to errors by state and local  authorities of Armenia will be reset to zero. The National Assembly  of the Republic of Armenia adopted amendments to the Tax Code of the  Republic of Armenia in the second and final reading at the plenary  session on January 21. 

ArmInfo. The State Revenue  Committee (SRC) of Armenia explains who and under what circumstances  must file a tax return for income received in 2024 by May 1, 2025.

ArmInfo. An active lending policy in 2024 allowed Armenian banks to ensure high profit growth. Thus, an increase in the loan portfolio by 25% - to 6.3 trillion ($ 15.8 billion) increased net profit by 61% - to 363.2 billion drams ($  915.8 million). This is evidenced by the data of the Express Ranking  of Armenian Banks as of 31.12.2024, prepared by ArmInfo Investment  Company.

ArmInfo. A meeting was held in the Armenian government led by Prime Minister Nikol Pashinyan, to discuss a bill  regulating the crypto-asset sector.

ArmInfo. Residents of Armenia, who submit an annual income declaration can receive a reimbursement for social expenses from their income tax. This includes social  expenses for themselves and their family members (spouse, parents,  and children).

ArmInfo. Armenia increased its exports to 14 EU countries by the end of 2024, according to the press service of the Ministry of Economy. Growth was recorded in  countries such as France, Italy, Belgium, Poland, Austria, Romania,  the Czech Republic, Croatia, Portugal, Slovakia, Latvia, Lithuania,  Malta and Slovenia.  At the same time, a decrease in export volumes  is observed in the direction of Bulgaria, Germany, Denmark, Estonia,  Ireland, Spain, Luxembourg, Cyprus, Greece, Hungary, the Netherlands,  Sweden and Finland. In addition to the EU market, Armenia has also  registered positive dynamics with countries such as the USA, India,  Japan, China, Iran, the United Arab Emirates (UAE), Switzerland,  Serbia, Georgia, Iraq, Thailand, Uzbekistan and Belarus.  The  opposite dynamics in exports, as reported by the Ministry of Economic  Development, is observed with Kazakhstan, South Korea, Russia,  Kyrgyzstan, Malaysia and Qatar.

ArmInfo. In Armenia, a year after violations of the rules for using cash registers were  identified during thematic tax audits, organizations will not be  fined. The National Assembly of the Republic of Armenia is discussing  amendments to the Tax Code in the second reading at a plenary session  on January 20. 

ArmInfo.

ArmInfo. The Armenian government intends to improve the investment environment by applying new tools to solve the problem of bad debts. The National Assembly of  the Republic of Armenia is discussing amendments to the Tax Code in  the second reading at the plenary session on January 20.

ArmInfo. The Upper Lars checkpoint is closed for trucks, customs attache of the Armenian Embassy in Russia Vahan Hakobyan told an ArmInfo correspondent.

ArmInfo. January 13 to 17, 2025, in Armenia's interbank foreign exchange market, only one USD and two RUB transactions were effected, with no EUR transactions effected. USD transactions showed a 4.6-fold growth against a 64% decline the previous week. The total amount of USD transactions  exceeded that of RUB almost 2-fold.

ArmInfo.The Ministry of Economy is negotiating with the Norwegian Agency for Development Cooperation (NORAD) to receive consulting support in attracting an international operator for industrial zones, as  reported by the press service of the department, following a meeting between Deputy Minister Edgar Zakaryan and a delegation from NORAD.

ArmInfo. Further development of the Armenian economy is possible only if the republic has good ties with both Russia and the West. Only with good relations  with both poles can Armenia become a mediating bridge. This was  stated in an interview with an ArmInfo correspondent by the head of  the  economist Suren Parsyan.

ArmInfo. With proper documentation of expenses, the tax burden on jewelry retailers will not only not increase, but, on the contrary, will decrease. This  statement was made by the deputy head of the parliamentary standing  committee on economic issues, MP of the ruling faction of Armenia  "Civil Contract" Babken Tunyan, responding to the protests of the  workers of the "Gold Market" shopping center, who are against the  double increase in the turnover tax rate and the corresponding entry  by the former assistant to the Prime Minister Nairi Sargsyan.