Changes and additions will be made to the Tax Code. The purpose of the decision is to make the transition from the real estate tax calculation system based on the cadastral values ​​to the real estate tax system calculated on the basis of the values ​​approached by the real estate market value, thus ensuring an adequate wealth or visible tax.

The Minister of Finance Atom Janjughazyan issue presented the issue to the members of the executive.

Prime Minister Nikol Pashinyan noted that this is one of the most important reforms that the government has undertaken to implement, which is considered among the tax reforms.

“The notion of non-taxable real estate is being abolished. There was a situation in Armenia where no tax was paid for property worth up to 3 million drams. We record that this was a wrong approach from the beginning,” the Prime Minister said.

According to him, if the value of a person’s property is low, nevertheless, let him pay 100 drams, but pay. “In general, yes, the property tax will increase, and mostly will increase on the property that we conventionally call castles, mansions, etc.” If we look at the taxes that for these big houses pay today in fact, it is symbolic. For many years, there has been a debate in Armenia that a luxury tax should be introduced, and there is a luxury tax component here,” Nikol Pashinyan said.

The Prime Minister also mentioned that now people are building houses without taking into account any related factor. “They think that the bigger, the higher, the more oppressive for the others, the better their social role grows.”

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