YEREVAN, DECEMBER 28, ARMENPRESS. Prime Minister Nikol Pashinyan has chaired a meeting with government officials on the process of the ongoing reforms in the property tax system, the PM’s Office said.

Deputy Prime Minister Mher Grigoryan said at the meeting that in November 2019 the new law on defining the cadastre evaluation procedure of real estate was passed which will come into effect from January 1, 2021.

The law defines 20 cadastre zonings and 9 types of property tax in the entire territory of the country, which will make the taxation more targeted. As a result, it is expected to introduce a single, effective system of real estate taxation and appraisal.

During the meeting ideas were exchanged regarding future actions in this direction.

The methodology of implementing reforms in the property tax system in the context of applying the law was discussed. The timeframe of introducing the system, the efficient combination of the market and cadastre values of real estate, ensuring systems for servicing the mechanism and other matters were also discussed.

Prime Minister Nikol Pashinyan said that the government’s goal is to develop progressive taxation mechanisms for real estate, ensuring the fair and adequate distribution of tax burden and that the reforms must be implemented in this context.

PM Pashinyan tasked officials to continue working and submit recommendations within a month regarding the timeframe of introduction and the modeled option of the planned changes,

Edited and translated by Stepan Kocharyan