Meeting of the Government of the Republic of Armenia at which Deloitte CIS Tax & Legal professionals presented their proposals for tax incentives in the IT industry
On 31 March, a meeting of the Government of the Republic of Armenia chaired by Prime Minister Karen Karapetyan took place at which Deloitte CIS Tax & Legal professionals presented their proposals for tax incentives in the IT industry, which is among the priority areas of the government’s development policy. Gennady Kamyshnikov, Deloitte managing partner, Public Sector Services, spoke about the role of the tax system in the economy and about the importance of a comprehensive approach in planning IT industry support.
Vasily Markov, Deloitte’s Tax Benefits and Other Government Incentives Services leader, made a presentation during the meeting about the impact of tax incentives on IT industry development in global practice, and pointed out the key factors that have held back IT industry development in Armenia. At the end of his presentation, Vasily spoke about some of the most effective IT industry incentives which would not have a material negative effect on government revenues in the first years of application.
The following professionals became part of the task force: Arpine Ghevondyan (Director, Deloitte Yerevan), Arman Kubanyan (Deloitte Yerevan), Emil Baburov (Deloitte Saint Petersburg) and Yana Butrimovich (Deloitte Moscow).
Deloitte was selected for this project from a number of the largest professional services firms which operate in Armenia. It became possible due to the accumulated experience of drafting amendments to tax legislation in many countries of the world and the recent implementation of an IT industry incentive development project completed by Deloitte’s Tax Benefit and Other Government Incentive practice as part of a task force under the Russian Government.
You can find the official press release for the meeting here: http://gov.am/ru/news/item/8841/