Exciting News for Free Economic Zone Operators in Armenia

Starting July 18, 2024, according to amendments made to the Armenian Tax Code, Free Economic Zone (FEZ) operators will be exempt from paying corporate income tax on income generated from activities within the FEZ. This change aims to stimulate investments and economic activity in FEZs, contributing to the development of Armenia's economy.

However, it is important to note that there are certain types of income for which this tax exemption does not apply. Additionally, amendments to the "Law on Free Economic Zones" have specified the types of activities permitted within FEZs, ensuring clarity and compliance for all stakeholders.

The main types of activities permitted in FEZs include:

• Manufacturing
• Agriculture
• Electricity and gas supply
• Waste management and recycling
• Warehousing
• Software development
• Data processing and application
• Cryptocurrency creation
• Culture, tourism, entertainment, and recreation

Crowe Armenia is ready to help you navigate these changes and maximize your business opportunities. Contact us to learn more.