EBA Armenia participated in an online session of the Expanded Council of Revenue Policy Improvement to discuss the Proposal on the Property (real estate) Taxation System Improvement in the Republic of Armenia. During the Meeting Mr. Arman Poghosyan, Deputy Minister, presented the proposal on Property Taxation changes on apartments, houses, etc. and the best scenario preferable for the government is planned to be implemented since 2021, throughout 3 years period. After the public discussion and before the adoption, the Proposal will be discussed at the National Assembly. The Property Taxation System Improvement Project will be resolving 2 main objectives: – To increase the 0.2% Property (real estate) Tax contribution to the GDP (the average is 1 %) – To Introduce a Progressive Taxation Model vs. the Even Taxation model – Ms. Yulia Ustyugova, IMF Resident Representative also participated in the meeting. In 2020, the Armenian Government approved the RA law “The Ministry of Finance prepared a Proposal based on the assessment. The project is planned to be implemented from January 1, 2021 and will be carried out gradually through 3 years period.