Pashinyan promises to introduce tax on oligarchs

Tue 13 Nov 2018 17:04 GMT | 21:04 Local Time

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Armenia's acting Prime Minister Nikol Pashinyan announced 'significant' changes in the budgetary policy of the government, saying his government’s budgetary and economic policies will be to encourage labor activity.

Speaking during a parliamentary discussion on next year’s draft budget, the acting PM said the structure of economic growth will change to become based on the labor efforts of every citizen. "Our political task is to create all conditions, both political and economic, for the citizens to realize their economic and labor activity," ARKA cited Pashinyan as saying.

In addition, he said that in order to avoid deepening of social inequality, the government intends to establish ‘a fair’ taxation system. Pashinyan said the government will reimburse the income tax cuts by revising the property tax and introducing the special tax for the so-called 'elite' neighborhoods and mansions located there.

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