Profit Tax Exemption for Agricultural Businesses Extended Until the End of 2026

The profit tax exemption period for businesses engaged in agricultural production will be extended until December 31, 2026. This decision was adopted by the National Assembly of the Republic of Armenia during the second reading of the bill amending the Tax Code, with 63 votes in favor and 21 abstentions. According to Gevorg Papoyan, Minister of Economy of the Republic of Armenia, the measure extends the tax exemption—originally scheduled to expire in December 2024—by two years, until the end of 2026.

Accordingly, under the draft law, until December 31, 2026, companies subject to profit tax and engaged in agricultural production will be exempt from paying profit tax on income generated from the sale of agricultural products, as well as on income derived from the sale of other assets and other sources of revenue. However, this exemption will apply only if income from the sale of other assets and other sources does not exceed 10% of the company’s annual gross income for the relevant tax year.

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