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
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...
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.
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.
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.
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,...
What we want to introduce in this article: What is important for entrepreneurs to start a high-tech business in Armenia Privileges for startups launching IT-related business in Armenia How can outsourcing consulting company impact on growth of the IT business in Armenia? What type of outsourcing services mainly necessary for Armenian high-tech businesses? How Tower...
In this segment, we want to introduce you to our legal services for Armenian companies which include legal outsourcing and due diligence: what benefits you will get by cooperating with legal advisory companies in Armenia, what the purpose of due diligence services are and other legal and business related issues. Every investor, wanting to invest...
Have you decided to invest and consider using consulting services in Armenia? We’ll show you the advantages of accounting outsourcing in Armenia as well as tax services in Armenia, how it happens to be profitable for your business, and why you should choose Tower as a partner. Important factors in making business partnerships in Armenia...
First of all, we should understand which sectors in Armenia have become more attractive to investors in recent years, what is the reason for this, and whether it is desirable to invest in those sectors in 2020․
Dear Tower Clients As you are aware, the Government of Armenia has introduced measures to restrict citizens from leaving their homes. As a company we were fully prepared, and our colleagues are all continuing their work from home, taking all steps to ensure that we remain 100% operational and continue providing all our services. I...
An Evening of Armenian Wine, Charles Aznavour Songs and Good time at Tower International Consultants – Yerevan, 2020 Client Event Last Friday, Tower International Consultants held its Clients’ Reception on the roof top restaurant of the “Yerevan Sky” Restaurant & Bar. The event was visually impactful and at the same time personable and intimate. The...
A few days ago the Parliament of Republic of Armenia passed a law in the area regulating the use and sales of tobacco products. This new piece of legislation, which is expected to enter into force in the near future, has had a stirring effect on Armenian society and has been widely discussed by all...
Any International Company that wants to expand and enter a new environment, conquer new heights and markets, faces many difficulties in learning the local laws, business and cultural customs. Surely, Companies may start hiring local professionals, with education and skills developed in areas of law, accounting and tax. The difficult part of recruiting professionals is...
Being in compliance with the local and international tax systems is of utmost importance for any international and local company which works in Armenia. Tower’s approach is to ensure this compliance in combination with the best design and solutions that would make operations and transactions of our Client companies doing business in Armenia efficient and...
Armenia’s accounting system is nothing short of complexity. Hence, to provide top notch accounting services in Armenia, Tower has been working for years to study the problems in the field and constantly refining the services, upgrading and delivering those in compliance with the legislation and regulation of the country. For accounting services and accounting outsourcing...
Tower International Consultants CJSC has been providing legal advisory services to a number of international companies in Armenia since 2007. Since then Tower has gained its unique place among various advisory companies by providing services on negotiation and mediation of disputes, state registration of legal entities, preparation and review of legal documents, contracts, and agreements....
Following the formation of a new government in Armenia in mid-2018, Tower International Consultants cjsc expects
The new law on changes in Armenian Tax Code after getting the approval from RA Government passed to RA National Assembly for approval. The main objectives of the project package are to make changes to the national tax burden and investment redistribution, as well as ongoing simplification of the micro-enterprise taxation system. In this short...
Tower was approached by a German consulting company wishing to expand its network in the CIS by opening a legal entity in Yerevan
In January 2018 Tower made contact with an Italian Construction company which had won a construction tender issued by the Municipality
After providing considerable advice free of charge on setting up in Armenia, Tower has signed an Engagement for ongoing tax and accounting
Having been satisfied by Tower’s preliminary setting up advice, this North American Mining Services Company has additionally engaged Tower to provide
Starting from mid-2016 Tower has been providing Tax and Legal advice on a time basis to a north American mining services company which has contracted
Having followed the RA bidding process in the World Bank funded construction of new electric sub stations Tower has teamed up with one of the winning
