Armenia

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Return to homepage  |  Last updated: 27 April, 2020

• One-time support (AMD100 thousand) for each child in a family, where the parents have lost their job in a time period covered from 13 March to March 25 or one parent has lost the job and the other parent is unemployed or dead or recognized as dead or gone missing. Average wage of previous 2 months must not be more than AMD500 thousand.
• One-time support (AMD68 thousand) for a person, who lost the job in a time period covered from 13 March to 30 March. Average wage of previous 2 months must not be more than AMD500 thousand and the beneficiary must not have worked financial organizations or gambling establishments.
• One-time support (AMD100 thousand) for pregnant woman who does not have husband or whose husband has lost his job.
• One-time support for employees (up to AMD138 thousand) or individual entrepreneurs in sphere of hotel services, public catering services, tourism, hairdressing and beauty salon services and retail services (except for food and drug dealers), Ground transport operations (route transport), Preschool institutions (private kindergartens), Sporting activities (sports clubs, swimming pools) or Entertainment and other leisure activities . Average wage of previous 2 months must not be more than AMD500 thousand.
• One-time support (AMD26 thousand) for every child, whose parents do not have jobs. Average wage of previous 2 months must not be more than AMD500 thousand.
• One-time support in amount of 50% of gas and electricity payments for resident subscribers whose gas and electricity utility payments for February did not exceed AMD10 thousand and  AMD5 thousand correspondingly.
• One-time support in amount of 30% of gas and electricity payments for resident subscribers whose gas and electricity utility payments for February  did not exceed AMD10-30 thousand and  AMD5-10 thousand correspondingly
• Support for families with family and social benefits in amount of 50% of the benefit, 70% of which is provided in cash along with the benefit for April and 30% is available as a payment for the energy consumed by the subscriber.

• Target: Resident Business. Co-financing, refinancing, subsidizing of entrepreneurs with good tax and credit record. The loans will be provided for payroll, payment of taxes, duties and mandatory payments, purchase or import of raw materials, import of devices and equipment (including agricultural), payment of utilities and for food import by trading companies. The terms are valid for loans equivalent of up to AMD250 million. The interest rate will not be more than 6%. Loan repayment time period will be up to 24 months.
• Target: Agriculture. Co-financing the insufficient level of securities to be provided for a loan and subsidies of bank interest for persons and legal entities with good tax and credit record, as well as refinancing (including leasing) for cooperative farms. The sphere of activity must be agricultural. Support is provided in the form of interest rate subsidy; for cooperative farms – in the form of co-financing, including financial lease;
• Target: SME. Provision of loans in amount of AMD2.5 million - 50 million (depending on the amount of turnover) to companies with turnover min. AMD24 mil. and max AMD500 mil., performing activities in the spheres of processing industry, accommodation and public catering, transportation and storage, tourism services, healthcare and in other service sectors. The loan will be provided for 36 months with no payment obligation for first 6 months.
• Target: Effective job support. One-time grant in the amount of the salary of every 5th employee for companies with 2-50 employees.
• Target: Support for micro-enterprises. Support to micro-enterprises: one-time grant in amount of 10% (but not more than AMD132 thousand) of turnover of the first quarter of 2020 for persons, who were not individual entrepreneurs during 2019 or have been such, but were exempted from taxes, for persons registered as family business in 2019 or for persons not registered as self employed in 2019 and had tax exemptions.

Export

• Temporary restrictions on the export of medical masks, gloves and goggles, biohazard suits, medical robes, antiviral medicines, gauze and other medical products. This limitation concerns all countries, except Iran. Exclusion from mentioned requirement can be made based on the written consent of the Ministry of Health of the Republic of Armenia on the products to be exported and their quantities.

Cross-border

• Closure of the all border crossing for passenger's entrance intro RA (from 3 April 2020)
• Borders are open only for cargo import and export
• Return of vehicles transporting goods from Russia or Georgia to Iran through the territory of Armenia to Russia or Georgia is allowed.

Main sources of information

• Programs to address the economic impact of COVID-19
• Programs to address the social impact of COVID-19
• ARLIS

Tax: Nerses Nersisyan – nnersisyan@kpmg.com
Legal: Hovhannes Vardanyan – hvardanyan@kpmg.com, Ernest Abelyan - eabelyan@kpmg.com