On 18 March 2019, a draft law on amendments to Armenia's Tax Code was reportedly submitted to parliament. Amendments include:
- A reduction in the corporate tax rate from 20% to 18%;
- A reduction of the dividend withholding tax from 10% to 5%;
- The repeal of the patent fee (license payment) regime that applies for certain business types;
- The introduction of a new micro-enterprise regime; and
- The replacement of the current progressive individual income tax with a flat 23% tax rate.
The amendmen…