YEREVAN, SEPTEMBER 14, ARMENPRESS. The implementation of the law “On state support to IT sector” has proved to be successful within 8 months. 40 new companies obtained a certificate and started using the tax privileges granted by the law. The founding director of “Enterprise Incubator Foundation” Bagrat Yengibaryan informed in an interview with “Armenpress”, who is also a member of certification commission, that while developing the law they had the fear of to what extent it would serve its purpose, but today they are sure that they were on the right path. “We had planned, that annually 40 new companies would be established by average, but by September 9 certificates were already delivered to 40 companies. Many younger people have established new companies who, obviously, would not pay taxes as all of them worked for the outside market and could work sitting at home. But now they come and register their companies”, mentioned Bagrat Yengibaryan.

According to him the promulgation of this law was a right decision as it creates extra sources of revenue for the state. “It seemed that making exempt from taxes we lose money, but no, we make extra profits for our state budget and give people an opportunity to work legally without fear”, Bagrat Yengibaryan added.

According to him the establishment of 40 certificated companies has created 171 new jobs. In addition to IT specialists, accountants, lawyers and other specialists have been employed.