Armenia’s National Assembly is considering amendments that would allow funds from personal income tax already paid by citizens to be directed toward nonprofit organizations, media companies and political parties.
The draft amendments to the Tax Code are being discussed by parliament’s Standing Committee on Financial-Credit and Budgetary Affairs, Panorama.am reported.
The proposed legislation would establish a legal mechanism for providing non-repayable financial assistance to nongovernmental organizations, legal entities operating in the media sector and political parties using funds derived from personal income tax payments.
The initiative aims to create a framework for allocating a portion of tax revenues already paid by individuals to eligible organizations.
