Prime Minister chairs meeting on introducing new real estate tax system
Prime Minister Nikol Pashinyan held a consultation to discuss the proposals on revision of the system of taxation of real estate in Armenia. The proposals were based on the results of the previous discussions held by the Prime Minister. In particular, they related to property tax rates for apartments, public and industrial areas, garages and undeveloped land.
Reference was made to the methodology for evaluating immovable and landed property, as well as to the impact of the proposed amendments on the applicable rates.
The proposals seek to ensure better targeting in taxation regulations. Those responsible stressed that an effective system of real estate evaluation and taxation is expected to be introduced. Prime Minister Pashinyan instructed to finalize the concept on the basis of the proposals voiced during the meeting.