Armenia Introducing Incentives for Employment in the IT Sector

The Armenian Government has reportedly approved the introduction of an employee tax incentive for the IT sector. The incentive provides a 50% individual income tax deduction for each employee of new and existing IT sector businesses, subject to the following conditions:

• At least 90% of income is derived from IT activities or, if no income has been received, at least 90% of the employees are IT specialists;
• At least 50 new jobs have been created since 1 March 2022 under employment agreements …