this is becoming ridiculous, the problem in Armenia is not the tax, but the it's collection from the wealthy i won't argue here about where and for what purpose those "colorful" taxes are going to be used, but to set taxes on property may also hurt the poor or the oridnary citizens who don't have money but inherited a piece of land or an old house Armenia should have 2 taxes VAT and Income Tax Income tax should be filed by EVERYONE from 0-100 age and it should include all sources of revenue inside Armenia and capital gains... let them model it after USA tax

The article seems to contradict itself. At first it says that the tax is on income, then its sense "or" it's on total possessions... then it says on it's on a per purchase basis based on cost. So which is it? I think it's easiest to have a higher VAT tax for single item purchases over $50,000 for vehicles and over $400,000 for homes. Income taxes should also taxed at variable rates (but that's not considered a "luxury" tax). Obviously the elephant in the room are some of the corporations -- e.g. owned by Gagik Tsarukyan -- that are highly profitable to their owners but show very modest profit, or show a loss. Also, have a real estate transaction tax!!! Require ALL real estate purchases to go through a BANK and to go through ESCROW forcing everyone to pay a government tax when they purchase property. The more electronic things are, the better it is to track. Oh, and have LICENSED real estate agents and brokers, and have a PROGRAM to train them, as they do in the U.S.!

@Berge: Yeah, but Singaporeans are considered to be one of the most stressed people on Earth and the suicide rate is very high! Health and wellness come first!!

And who will enforce these "laws"? Oliver Goldsmith: “The laws govern the poor, and the rich govern the law.” There are existing tax laws the law creators already exempt themselves from.

The minimum Annual salary in Armenia Is $1,000 as such anybody making more than $10,000 needs to be taxed.... 500 times the Minimum salary? the tax rate should be at least 40%

I think the Republic of Armenia needs to move ahead and look at set examples of small countries recently set-up and succeful and try to emulate similar conditions for growing the economy, improving education, establishing infrastructure, inviting foreign investment and in general creating a safe, friendly, ethical society...The authorities should study the Case of Singapore and how it rose from misery to world success in less than 2 decades...! Yes folks, it can be done...

Armenian lawmakers certainly have a good sense of humour. How unfair for the rich to be taxed more than the poor! This is a really quite revolutionary concept and I think the oligarchs in Parliament are going to have difficulty in not shedding tears of laughter. Shops selling hankerchiefs should do well in the run up to the vote.

I mean do we really expect for something like this to pass? The people who this law will affect are the same people who make the laws of the country or are in the pockets of the oligarchs.