Information Technology

The sector of information technologies is one of the most rapidly developing branches of the RA economy. The government declared it a priority industry in 2000, followed by the development of an industry strategy, the introduction of a development concept (2001), and the establishment of bodies to promote the development of the industry: the Information Technology Enterprise Union (ITEU, 2000), the Information Technology Development Council (ITDC, 2001), and the Enterprise Incubator Foundation (IDF, 2002). In 2014, the RA Law “On State Support of the Information Technology Sector” was adopted, according to which IT start-up companies with the number of employees not exceeding 30, initially for 5 years from the date of receiving the certificate, and now tax benefits are provided in the form of application of 0% profit tax and 10% income tax rates. Especially after the enactment of this law in terms of the number of newly established companies, there has been a significant revitalization in the industry. The sector's annual turnover grew by more than 27% on average, reaching 922.3 million dollars.