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Tax exemption for nannies

The Ministry of Labor and Social Affairs has put into circulation a bill providing for tax benefits for nannies. The bill can be found here.

 

The project justifies that the current situation in the Armenian demographic sphere requires new targeted measures that can shorten qualitative changes in the income, living conditions and other social problems faced by young and large families, which are a serious obstacle to the realization of population reproductive goals, as well as mitigation of unfavorable migration processes.

 

“Based on the paid maternity wage, 110,000 drams wages, it turns out that within the framework of the program 55,000 drams will be compensated by the state in accordance with the established procedure. Meanwhile, according to Article 150 (1) of the Tax Code, in case of up to 150,000 drams, 23 percent is defined as income tax (as a result, the salary of the nurse will be 25,300 drams). As a result, taking into account the targeted social payment and the stamp payment, it becomes clear that the state actually provides less money to the person as an aid, “says the bill.

 

It is proposed to set aside the possibility of returning the tax to the state budget, and the procedure and terms of repayment by the government’s decision.

 

According to the published data, between July 7th and November 1st, nannies made a payment of 2,875,931 AMD to the RA state budget. Therefore, the expenses to be made from the RA state budget will increase with this amount.

 

With the adoption of the project it is expected to ensure continuity of employment policy reforms and to increase the possibility of parents of children up to three years of age to return to work before child turns two years old.

 

 

 

 

 

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