Old Phones and Laptops in Armenia Can Be Repaired and Resold
In his annual press conference, Minister of Economy Gevorg Papoyan announced that the department plans to implement a trade-in system for used phones and laptops. This means that used products can be purchased from individuals or businesses, repaired, and resold.
A similar system has been in place for cars in Armenia since 2022. Previously, this model was not profitable due to the need to pay VAT on the sale price. Now, the tax is only calculated on the added value by the car dealership. This change has made the system more profitable. Additionally, the 10% income tax previously paid when purchasing products from individuals has been abolished.
Papoyan shared that consultations have been held with industry representatives. They have shown interest in the idea. It is expected that the Ministry will present the relevant bill to the Parliament by the end of the year.