YEREVAN, MARCH 18, NOYAN TAPAN. The RA National Assembly on March 18 discussed in second reading the government-submitted legislative package envisaging additions to the Law on Profit Tax, the Law on Value Added Tax, and the Law on Income Tax. The package will be voted on tomorrow. By the legislative package, tax payers engaged in hand-made carpet making in Armenia are exempt from profit tax (for revenues received from the sale of carpets), as well as from VAT and income tax. According to the government, relieving the tax burden will contribute to further development of traditional Armenian art, preservation of cultural heritage, international recognition of this branch of Armenian art, also to economic growth, the creation of nonagricultural jobs and a growth in the number of self-employed persons in rural areas. The main speaker, deputy minister of economy Mushegh Tumasian said that by the initial version, it was envisaged exempting carpet-makers from VAT and profit tax, however, taking NA deputies' proposals into account, the government has agreed to extend the tax privileges to private entrepreneurs engaged in carpet making, by including the respective addition to the Law on Income Tax in the legislative package.

---