Babken Tunyan on the Proposed Reduction of Income Tax for IT Workers from 20% to 5%

“In recent days, many have been asking whether it is true that the income tax for IT workers will be reduced from 20% to 5%. Although I have mentioned it in interviews, let me clarify here as well,” said Babken Tunyan, the Deputy Chair of the Standing Committee on Economic Affairs of the National Assembly and a member of the Civil Contract faction, on his Facebook page.

He added, “Such a proposal (to grant tax benefits for exporting companies in the IT sector) has been put up for public discussion by the Ministry of Economy. Just for public discussion, no more. The proposals still need to go through circulation, other agencies need to provide their opinions, they must go through preliminary discussions, and then be approved by the government before being sent to the National Assembly. The National Assembly has to approve it in two readings; the President of the country must sign it for the proposals to take effect. This particular proposal has not gone through those phases. It is merely set for public discussion.

If you want my opinion, I consider it wrong to grant such benefits to exporting companies in the IT sector. I can enumerate numerous arguments as to why it is a mistake, but as long as this proposal has not officially been presented to the National Assembly, I will refrain from going into details,” Tunyan wrote.