Local Tax Rates for Construction Permit Issuance Will Increase

The local tax rates designated for the issuance of construction permits are set to increase. This was announced by Arman Poghosyan, Deputy Minister of Finance of the Republic of Armenia, during the presentation of a package of bills on amendments and changes to the RA Tax Code in the National Assembly.

“The projects propose to raise the local tax rates for the issuance of construction permits and to establish a local tax for extending the terms of construction permits. Until now, the local tax has only been set for the issuance of construction permits; there has been no tax for extending the terms,” said the Deputy Minister.

Arman Poghosyan noted that the proposed increase in local tax rates would only apply to individual residential buildings within the administrative territory of Yerevan.