Economy

Microbusiness threshold proposed to rise to AMD 50 million

The government is proposing to raise the annual turnover threshold for operating under the microbusiness system from AMD 24 million to AMD 50 million. The changes are set out in a draft package of amendments to the Tax Code drawn up by the Ministry of Finance. The draft also proposes barring businesses that have committed significant or repeated violations of tax legislation from operating under preferential tax regimes for 5 years.