Weekly Client Alert # 11

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GOVERNMENT DECREES

 

The Seventeenth Package of Measures to Neutralize the Economic Consequences of Coronavirus

With the spread of the coronavirus, the Armenian government is aiding the IT sector to alleviate the difficulties faced by some high-tech businesses. The stakeholders are those high-tech companies who have no overdue tax and credit liabilities for the last 12 months and have not received a grant from the High-Tech Industry Ministry as of the last 12 months as of the date of submission of the application.

Assistance is provided in the form of a grant to the winner business entities based on the competition results.

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The Eighteenth Package of Measures to Neutralize the Economic Consequences of Coronavirus

The Armenian Government has adopted the 18th package of measures to neutralize the economic consequences of coronavirus. The purpose of the package is to contribute individual business entities of the Republic of Armenia to maintain effective employment. Beneficiaries can be those economic entities that had 2-100 employees in the period from February 1, 2020, to April 30, 2020, provided that the income Fund calculated by economic entities did not decrease or the decrease did not exceed 5% during the specified period. Assistance will be provided through a one-time grant.

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Amendments in the Form of Alcohol Advertisement

It is proposed to prohibit advertising of locally produced cognac by electronic media from 06:00 to 22:30, as it is in case of advertising of any other strong alcoholic beverages.

The legislative draft was adopted by the Government and submitted for discussion to the National Assembly.

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