Unified real estate assessment and taxation systems to be introduced in Armenia
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A Cabinet meeting was held today, chaired by Prime Minister Nikol Pashinyan.
The Executive approved the draft law on establishing a procedure for cadastral evaluation of real estate close to market prices.
The bill provides that a unified system of real estate evaluation and taxation will be introduced in Armenia in parallel to the real estate market’s gradual development. It will be an important step on the way to achieving enhanced efficiency in tax administration and real estate assessment.
As Real Estate Cadastre Committee Chairman Sarhat Petrosyan said, the proposed amendments will not affect agricultural land. The real estate appraisal procedure will be implemented in three ways: the plot of land itself, the improvements made to it - buildings, non-residential premises, garages, as well as public and industrial facilities located in a multi-apartment building. Sahrat Petrosyan also mentioned that swimming pools, canvas areas, etc. shall be considered as luxury items.
The Head of Government stated in this connection: “The question is about the long-discussed changes that imply shifting the so-called social justice component to the regime of property taxation. This is very important in ideological terms. Of course, the process is not limited to this project. There is still a lot to do in this area, but I do believe it an important milestone that a relevant package is being sent to the National Assembly.”
The Government approved a set of amendments to the law on diplomatic service, motioned by MPs Ruben Rubinyan and Arman Babajanyan. According to the reference note, the bill is meant to minimize the possibility of making appointments to the posts of Armenia’s diplomatic representatives for political or personal considerations. It will create equal opportunities and a healthy competitive environment for the promotion of experienced and highly professional diplomats.
A number of proposals and recommendations were voiced during the exchange of views that followed. In particular, the legislative requirement of a minimum of 10-year length of service was discussed. The Prime Minister suggested submitting the draft along with the Government’s findings to the National Assembly to review the controversial issues in more detail.
The Armenian State Symphony Orchestra will be provided AMD 50 million from the Government Reserve Fund to organize an international festival dedicated to the 80th Birthday Anniversary of People’s Artist, RA State Prize Laureate, composer Tigran Mansuryan. The Festival will kick off in the first half of September, with concerts held in Yerevan, Gyumri and Stepanakert.