2024-07-06 03:24:29
The executive is proposing new regulation in the Tax Code against various tax planning schemes.
The problem concerns, in particular, the planning of interest-bearing loans from individuals. The income tax rate is 10 percent, and the profit tax rate is 18 percent. It enables an individual to enjoy 18 percent by paying 10 percent. It is proposed to establish general income tax rates.
According to Rustam Badasyan, Chairman of the State Revenue Committee, who presented the issue in the second reading at the April 6 session of the Standing Committee on Economic Affairs, the loan between the organization and the individual will not be prohibited in any way. An attempt is made to ensure equality in terms of interest and not to allow that the loan with interest is given solely for the purpose of tax planning.
The “Armenia” faction presented two proposals in the first to second reading. One of the proposals was partially accepted, and the other was not, because the “Armenia” faction removed that proposal from the agenda, taking into account the counterarguments of the Government.
The legislative package received a positive conclusion.