Ahead of the June 7 parliamentary elections, the “New Power” party presented the economic bloc of its pre-election program. Prime Minister candidate Hayk Marutyan has promised to radically revise the recent tax reforms, doubling the turnover tax rate and returning preferential regimes for the service sector in order to stimulate the economic activity of the population.

In a video message published on social networks, Hayk Marutyan announced his intention to lower the turnover tax from the current ten percent to five percent. In addition, the politician plans to return specialized services to the turnover tax regime. Responding to concerns about the possible reduction of budget revenues, the party leader expressed confidence that the reduction of the tax burden will have the opposite effect.

According to him, the creation of comfortable financial conditions motivates people to work more, which will eventually lead to an organic increase in payments to the state treasury.

This initiative is a direct response to the amendments to the RA Tax Code that came into force in 2025. With that legislative package, the turnover tax for commercial activities was doubled. At the same time, a number of professional fields, including legal, accounting, consulting services, construction, real estate agencies, architecture and advertising, were forced into the field of value added taxation. The mechanisms for deducting expenses from the amount of turnover tax were also reviewed.

The softening of the fiscal policy is only one of the seven pillars of the pre-election program of the “New Power” party, which has registered a list of eighty-six candidates in the Central Electoral Commission.

The political manifesto also includes European integration as a foreign policy priority, a complete ban on online casinos, providing large-scale benefits to large families, providing free higher education, eliminating the statute of limitations for corruption crimes, and returning to national values. The pre-election campaign with the participation of nineteen political forces will continue until June 5.

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