TAX REDUCTION IN NKR

01.02.2001, MEDIAMAX, YEREVAN. Starting January 1, 2001 the profit tax rate in NKR is reduced from 15 to 10 per cent, Mediamax was informed in the state tax department of NKR.
In accord with law, this tax rate is to be reduced for another 5 per cent in NKR in 2002. According to the amendments to “Land law”, starting January 1, 2001 the tax rate for agricultural importance land is cut from 15 to 6 per cent.
For psychical persons the common 5 per cent rate of income tax is fixed; at the same time non-taxable income rate is reduced from 28 thousand to 10 thousand drams.
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