Small business owners in Armenia staged a protest outside the government building on Monday, voicing strong opposition to a proposed tax increase they say will worsen economic conditions and threaten their operations.
According to Armenian media, protesters collected more than 2,300 signatures against the new tax burden.
Hakob Avakyan, head of the Association for SME Cooperation, stated that the government refuses to engage in dialogue with the business community, adding that decisions are being made without considering the opinions of entrepreneurs. He warned that the authorities’ refusal to revise their decision could have the opposite effect of what they intend.
Protesters also criticized the government for making administrative documentation processes excessively complicated. Ermine Tovmasyan, head of the Armenian Association of Accountants, added that the likely outcome of the new taxation rules would be an increase in the number of accountants operating off the books.
As of January, the turnover tax rate was doubled — from 5% to 10% for trade and from 3.5% to 7% for manufacturing. Additionally, a new regulation coming into effect on July 1 will remove preferential tax treatment (on VAT and corporate profit tax) for construction, real estate, legal, and accounting companies.
North Korea launched several short-range ballistic missiles off its eastern coast early Thursday in what South Korean officials believe may be a performance test aimed at potential arms exports.
Iranian Foreign Minister Abbas Araqchi has called on India and Pakistan to avoid further escalation following recent airstrikes and mounting tensions over Kashmir, emphasizing the need for regional peace and stability.
U.S. President Donald Trump is expected to announce a major trade deal with the UK on Thursday, marking Britain’s second deal in a week and potentially lowering tariffs on steel and autos, according to sources cited by the New York Times.
Chinese tech giant Baidu has filed a patent application for a groundbreaking artificial intelligence system capable of translating animal sounds and behavior into human language, according to a report by the South China Morning Post.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
North Korea launched several short-range ballistic missiles off its eastern coast early Thursday in what South Korean officials believe may be a performance test aimed at potential arms exports.
Iranian Foreign Minister Abbas Araqchi has called on India and Pakistan to avoid further escalation following recent airstrikes and mounting tensions over Kashmir, emphasizing the need for regional peace and stability.
U.S. President Donald Trump is expected to announce a major trade deal with the UK on Thursday, marking Britain’s second deal in a week and potentially lowering tariffs on steel and autos, according to sources cited by the New York Times.
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Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
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Armenian Prime Minister Nikol Pashinyan said Armenia’s territorial integrity cannot be separated from that of its neighbours, responding to accusations over the 2020 war made by former presidents Kocharyan and Sargsyan.
Azerbaijani Foreign Minister Jeyhun Bayramov held talks with Iraqi President Abdul Latif Rashid during his official visit to Baghdad, focusing on expanding bilateral cooperation across various sectors.
On May 7, To Lam, General Secretary of the Communist Party of Vietnam, arrived in Azerbaijan for an official state visit.
North Korea launched several short-range ballistic missiles off its eastern coast early Thursday in what South Korean officials believe may be a performance test aimed at potential arms exports.
Iranian Foreign Minister Abbas Araqchi has called on India and Pakistan to avoid further escalation following recent airstrikes and mounting tensions over Kashmir, emphasizing the need for regional peace and stability.
U.S. President Donald Trump is expected to announce a major trade deal with the UK on Thursday, marking Britain’s second deal in a week and potentially lowering tariffs on steel and autos, according to sources cited by the New York Times.
On May 8, 2025, the United States proudly commemorates the 80th anniversary of the Allied victory over fascism and the end of World War II in Europe- a defining triumph for freedom and democracy.
The European Union is expected to announce new tariff counter-measures on Thursday targeting U.S. aerospace exports, including Boeing jets, in response to escalating trade tensions with Washington.
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