Armenian authorities intend to increase real estate tax 3-4 times

Armenian MPs are discussing the intention to increase real estate tax 3-4 times, according to news.am.

According to deputy finance minister Arman Poghosyan, with the bill presented, the Armenian government envisages raising the real estate tax, as well as establishing a property tax, the value of which is estimated at less than AMD 3 million.

His remarks came at the parliament's sitting during the discussion of the bill on amendments and additions to the Tax Code.

According to him, the purpose of the bill is to adequately tax 'visible wealth' or property.

News.am reports that the authorities do not explain what is the element of justice when, on average, the tax on apartments received by most families free of charge under the Soviet regime will be increased 3-4 times, and what about the “wealth” come when it comes to 50-year-old Khrushchev’s apartments.  

News.Az 

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