The government plans to grant a 270.7-million dram tax benefit to Jermuk Group, owned by Ashot Arsenyan, a former Republican Party of Armenia member of parliament. The issue has been included among items not requiring presentation at the government’s September 24 meeting.
Arsenyan’s son, Vahagn Arsenyan, was elected head of the Jermuk community in 2021 on the Civil Contract party list and currently serves as governor of Vayots Dzor.
According to the government’s justification, the company plans to import equipment worth 215 million drams, as well as an additional batch of raw materials worth 656.9 million drams. Following the planned additions, the total value of the goods will reach 4.3 billion drams. The customs duty exemption on the total value is estimated at 270.7 million drams.
The justification also states that granting the benefit would provide a significant incentive for implementing new investment projects, which are expected to create new jobs, attract investment and promote local production and exports. (Panam)