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Law “On income tax” that will come into effect from 2013 does not have any fundamental changes that detriment or increase tax burden for entrepreneurs. Deputy Finance Minister Vardan Aramyan in response to a MP’s question expressed this opinion during National Assembly session of September 13.

Note that law “On income tax” will combine present income tax and compulsory social security payments in one type of tax: income tax.

After the law becomes operational employer will have an additional obligation that an employee will receive as much money as was withheld by the income tax before the law comes into effect.

According to the deputy minister, the Government estimates that the net income of the employee will not decrease, for instance, employer will have to pay only 750 AMD for a salary of 100.000 AMD. ''This may not be seen as a significant increase of the burden, as the entrepreneur on the other hand gets rid of certain costs'' V. Aramyan said.

In particular the income tax payer starting from 2013 will be an individual, i.e. if social payments used to be paid by the employer, from 2013 a united income and mandatory social payments tax will be paid by an individual. According to the deputy minister entrepreneurs on the other hand currently do general expenses both when calculating and submitting a report, from which they will be exempted since from 2013 reports will be presented to the taxation authorities only electronically.