The Armenian government recently decided to exempt domestic handmade carpet manufacturers from profit tax and value-added tax on sales of carpets.
There are currently 800 handmade carpet practitioners in Armenia. Due to the recent strong dram and rising prices of related raw materials, the scale of handmade carpet production has dropped significantly, and these companies are currently in a state of suspension. This move by the Armenian government will help stimulate the production and sales of handmade carpets in the country.
