Tower News

Recent news and events from Tower International Consultants
02 Dec
Business Taxes in Armenia
Your legal and tax advisor in Armenia

Tower International Consultants CJSC has an extensive network of business and professional contacts and knows key actors (other companies, government entities, officials, experts) that would be instrumental in resolving matters, finding the right and trusted partners, or conducting regular business in general

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10 Nov
Tax know hows in Armenia
Special service of handling your legal, accounting and tax compliance work

Tower International Consultants CJSC is one of the few financial service advisory companies which has continued to operate under Covid-19 and the recent political situation in the RA thus making its small investment in the economy.

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27 Oct
Mobile payments
Online payments in Armenia: perspectives and future

The current year registered an unprecedented rise of online payments, because of many reasons, including the global healthcare situation: it is predicted to have 1 billion people using mobile payment apps worldwide at the end of the year and 1.31 billion by 2023!

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24 Aug
What should expect taxpayers from new reforms in Armenia
Tax questions: what you should know before starting a business in Armenia

In general, the tax system in Armenia offers small and medium-sized businesses a number of tax advantages to allowing this sector to stabilize and develop. The tax legislation rules in Armenia are rather flexible and are subject to frequent changes. These changes often happen so quickly that even many professionals do not have time to respond in time.

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21 Aug
Tax Reforms in Armenia
Tax Reforms in Armenia: Who are the beneficiaries?

From January 2020 Armenian switched to a flat income tax rate that sets income tax at 23% for each RA citizen regardless of their income size and will continue to decrease to 20% by 2023

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26 Jul
Armenian Dram Cash Money
Banking Industry Transformations in Armenia and in the World

The last 7-month world is living in a state of an emergency, and the banking industry is not an exception. Banks’ performance on the debt market and equity is at the same level as during Lehman Brothers’ collapse in 2008. During the starting phase businesses and borrowers started to lose income, jobs and sales, facing...

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17 Jul
Accounting and Taxes in Armenia
Changes to the Regulation on Advance Profits Tax in Armenia

Recently, on 16 June 2020, major amendments took place in the tax legislation of the RA Tax Code. According to the law on amending the Tax Code, it will no longer be necessary to submit an application by March 20 of each tax year for the selection of an alternative method of making profit tax prepayments.

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10 Jul
What expectations we have for Armenian real estate market for 2020
Investing in Real Estate in Armenia: Applicable Tax and Legal Support

In 2018 Armenian real estate market was worth $880.4 million and is expected to reach $1,249.3 million in 2026, with a CAGR of 4.3%. Currently, there are no significant changes in prices. However, it doesn’t mean that there won’t be deflation soon. But it is impossible to make clear predictions, according to the specialists. Market developments depend on the pace of construction and state support.

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25 Jun
Accounting Services in Armenia: 20+ years of experience
Accounting Services in Armenia: 20 + years of experience

Examining the part of the legislative changes in the Republic of Armenia that is closely related to Accounting, such as tax legislation, customs legislation, etc., we can state that professional accountants in Armenia and many other financial professionals must be constantly trained to follow these processes, if they wish to avoid many issues which occur during work.

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17 Jun
North Avenue, Yerevan, Armenia
Starting Production Business in Armenia

Advantages of production business in Armenia Located in western Asia, Armenia exported US$2.6 billion worth of products around the globe in 2019. With the highest GDP rate in all Europe (7.6% GDP growth and GDP CAGR to 2020 is 3.2% for Armenia vs. CAGR of 2.7% for global GDP), economic reforms, and “open door” policy,...

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