Endowment law discussed in Yerevan

PanARMENIAN.Net - RA Endowment Law was discussed in Yerevan on October 19.



As stockholder of Grant Thornton Amyot LLC Gurgen Hakobyan told PanARMENIAN.Net the company developed the bill by order of Eurasia Partnership Foundation.



"It aims at creation of legislative base for non-governmental organizations to form and use targeted capital," he said. "The law will help Armenian NGOs be more self-sufficient. An important provision in this bill is that the income the NGOs will get from the capital will be tax-free. The cash assets will work through investment companies (pension fund, banks) and the NGOs will get dividends."



For her part, Eurasia Partnership Foundation Programs Manager Marina Mkhitaryan said that the experience of Czech Republic and Germany in introduction of corporate social management was used for development of the bill, which will help efficient spending of funds.