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The purpose of the proposing amendments to the RA Tax Code is to provide an exception to the application of the regulations for vehicles classified under the Common Commodity Nomenclature of Foreign Economic Activity 8703 code. The restrictions will not apply to lessors.

The draft law On Making Addenda to the RA Tax Code authored by the deputy Babken Tunyan was debated in the first reading at the regular sitting of the RA NA Standing Committee on Economic Affairs.

The key rapporteur, the Deputy Chair of the Committee Babken Tunyan noted that there were proposals and concerns on the issue, which were debated with the partners of the Ministry of Finance and the State Revenue Committee.

As a result of the adoption of the addenda being proposed by the legislative initiative, the tax environment for the rental and leasing of vehicles will be improved.

The draft was endorsed.