Armenian social payment system to be changed

Armenian Minister for Labour and Social Affairs Artyom Asatryan said that the system of social payments from wages will be discontinued on January 1, 2013.

Income tax for a monthly wage of $294 will total 24.4%. Higher wages will have a tax rate of over 26%.

People without tax agents will have a rate of 24.4% and 26% for sums over and under $3530 a month respectively.