Armenia's parliament reportedly approved an extension of tax incentives for exporters on 26 May 2021. Previously scheduled to expire on 31 December 2021, the following reduced corporate tax rate incentives have been extended to 31 December 2029 for resident companies that are exclusively engaged in exports of goods and services:
- A 5% reduced rate for companies (groups) with export turnover exceeding AMD 40 billion per year; and
- A 2% reduced rate for companies (groups) with export turnover exceeding AMD 50 billion per year.
The reduced rates are not available for export companies engaged in the sale of mining and excisable products, or jewelry, precious metals, and precious stones.
In addition to the reduced rates incentive, the parliament also approved changes in the VAT refund procedures for exporters. This includes a change from quarterly refunds to monthly refunds, with exporters allowed to request a refund on the day following the VAT return for the prior reporting month.