The formation of a favorable tax environment for the development of the jewelry industry will be promoted

Today, the regular Cabinet meeting was held, chaired by the Prime Minister of the Republic of Armenia Nikol Pashinyan.

The Government approved the bill "On Amendments and Supplements to the Tax Code of the Republic of Armenia", the purpose of which is to revise the rules for determining the VAT tax base for transactions involving the alienation of items made of gold and precious stones, with the expectation of forming a favorable tax environment for the development of the jewelry industry. Referring to the decision, Nikol Pashinyan noted that the bill is complex, but it is a very good bill for jewelers, which will help them get rich and enrich, and as a result, the competitiveness of local jewelry products compared to imported ones will increase. "We need to act quickly, as the tourist season is now in full swing and our jewelers' sales will increase significantly. We are confident that this effect will occur," the Prime Minister said.

The Government adopted a decision “On the consolidation of real estate and the right of gratuitous use”, which envisages the transfer of the land plot located in the area adjacent to the TV tower on Hovsepyan Street, Nork Marash, Yerevan, which is the property of the Republic of Armenia, to the Ministry of Environment, and then providing it to the “Hayantar” SNCO for an indefinite period. As noted by the Minister of Territorial Administration and Infrastructure, Davit Khudatyan, the land plot is already the property of the Republic of Armenia, the ownership is registered. According to the minister, it was returned to the Republic of Armenia based on the lawsuit of the Prosecutor General’s Office of the Republic of Armenia, by the ruling of the Anti-Corruption Court.

Referring to the adopted decision, Nikol Pashinyan noted that the territory should be a forest of urban logic, suitable for active life, without commercial points. Minister of Environment Hambardzum Matevosyan noted that work is currently underway with international partners to attract donors in order to make the idea of turning the Nork land plot into a forest park a reality.

The Government approved the bills of the Republic of Armenia “On Amendments to the Tax Code of the Republic of Armenia”, “On Amendments to the Criminal Code of the Republic of Armenia” and “On Amendments to the Criminal Procedure Code of the Republic of Armenia” and considered them urgent. The adoption of the bills is conditioned by the need to revise the quantitative (major and especially major) thresholds of criminal liability in cases of acts considered criminal for tax evasion, to submit reports to the body initiating criminal proceedings based on the circumstances recorded by the administrative act that has entered into force, as well as to improve the criminal procedural procedures for the seizure of property as a result of introducing an alternative mechanism.

The Government made amendments and additions to the 2022-2025 State Support for Ensuring Housing Affordability for Families in Border and Separate Settlements of the Republic of Armenia, the goal of which is to support the improvement of housing conditions for families by ensuring appropriate conditions for the sustainable development of families (households) in border settlements.

The government's decision proposes to allocate 1,007,158.8 thousand drams from the state budget to the regional administrations of the Republic of Armenia to finance subvention programs.