On 16 December 2022, the Armenian parliament adopted the relevant laws “On amendments and additions to the Law on State Support of the IT sphere” and “On Amendments to the Tax Code of the Republic of Armenia” for the extension of tax incentives for start-up IT companies.

Accordingly, the newly started, starting business entities in the sphere of IT are provided tax exemptions with 0% rate and 10% income tax rate for employees. Previously the incentives were extended to 31 December 2022 and now it will be extended to 31 December 2023.