We Want to Become a Country Where Salaries of 1-2 Million Drams are Normal

We have reduced the income tax on the highest salaries to 13%, for what purpose? So that our country becomes attractive for companies that pay high salaries.

This was stated today by Prime Minister Nikol Pashinyan during a cabinet meeting, responding to Deputy Prime Minister Mher Grigoryan. Grigoryan noted that tax incentives are not the best tool to stimulate the market with appropriate companies, as initially, we bring in companies this way, and then we remove the incentives.

“It turns out that we have violated the rules of the game from the very beginning. We must refrain from using tax incentives as an incentive. Now if these companies come, will we never collect taxes from them?” In response, the Prime Minister said, “We have reduced the income tax on the highest salaries to 13%, for what purpose? So that our country becomes attractive for companies that pay high salaries. Because we do not want to remain a country where a salary of 60,000 drams is considered normal. We want to become a country where salaries of 1 million, 1.5 million, or 2 million drams are a normal phenomenon.

For example, if a satellite manufacturing company appears in Armenia, there is no problem for it to have a tax incentive because it can serve as a flagship that can carry the entire economy behind it and significantly raise the country’s rating,” the Prime Minister stated.