Unlock Armenia’s Tax Advantages: Business-Friendly System and 2024 Reforms
Are you a business owner, startup founder, or investor exploring opportunities in Armenia? With its simplified tax structure, Armenia is quickly becoming a hub for entrepreneurs in the tech, IT, and digital sectors. In this guide, we break down the top reasons to do business in Armenia and explain the key tax benefits you should know in 2024.
✅ Why Start a Business in Armenia
Armenia offers attractive conditions for small, medium, and large businesses — especially in the IT and innovation sectors.
• Low Corporate Tax: 18%
• 1% Turnover Tax for IT Companies
• VAT Exemption and 10% Turnover Tax for businesses with turnover under 115 million AMD
• Fast Company Formation
• Residency Status available for business owners
🔍 Overview of Armenia’s Business Taxes
Armenia maintains a transparent, simple, and business-friendly tax system:
• Corporate Income Tax: 18%
• Value Added Tax (VAT): 20%, with certain exemptions
• Turnover Tax: 1% for IT and tech companies
• Property Tax: Based on the type and location of assets
• Payroll and Social Contributions: Required from both employers and employees
• Excise Taxes: Applied to alcohol, tobacco, fuel
• Special Taxes: Gambling and financial transaction taxes
📈 Tax Reforms to Watch in 2024
The Armenian government is implementing reforms to increase international investment appeal:
• Support for Digital Businesses: New incentives for the tech sector
• Increased Transparency: In line with global standards
• Tax Reductions: Lower rates being considered for foreign investors
🤝 Why Work with Documan
If you’re ready to start a business in Armenia, Documan can guide you through every step:
- ✅ Business registration and licensing
- ✅ VAT and corporate tax optimization
- ✅ Legal and accounting support
- ✅ Tax planning and residency assistance
🚀 Launch your business in Armenia today. Contact Documan for expert help!
