Armenian government allocates 28 million drams to public broadcaster

The Armenian government on Thursday approved nearly 28 million drams (about $70,000) from its reserve fund to cover tax and fee obligations tied to a Chinese-financed construction project for Public Television of Armenia.

Officials said the allocation of 27,756,080 drams will reimburse the broadcaster for mandatory payments owed under agreements with China, including taxes and customs duties related to equipment, materials, and services imported for the project.

The funding stems from a 2021 bilateral accord on technical and economic cooperation, under which China agreed to support the construction of Public Television’s new eighth studio. Armenia, in turn, committed to exempting Chinese contractors from taxes and tariffs and to covering certain mandatory expenses.

A follow-up implementation contract signed in June 2023 further required the Armenian side to compensate for income tax, profit tax, and other obligatory payments assessed against the Chinese company.