Armenia Government proposes legislative and budgetary updates

The Armenian government is advancing several legislative and budgetary initiatives. A proposed amendment to the Law on Tourism aims to remove provisions regarding the registration of tourism operators within the social package vacation service. While existing contracts will remain valid under current regulations until January 1, 2027, new rules for utilizing remaining funds will be established by the government before that date.

In fiscal matters, the State Revenue Committee is developing a framework to regulate the exchange of financial account information with competent authorities in foreign states. This initiative seeks to establish procedures for transmitting and receiving data, as well as requirements for data protection, to ensure the implementation of tax code amendments scheduled for July 2026.

Additionally, the government has proposed reallocating 144.5 million AMD to the Karen Demirchyan Complex. The additional funding is required to ensure accessibility for persons with disabilities, following changes in construction volumes and design solutions, such as replacing discontinued elevator models and increasing the quantity of tactile indicators.