YEREVAN, February 20. /ARKA/. Armenia’s prime-minister instructed not to institute administrative procedure against taxpayers who delayed their tax reports, the government press service reported.
The prime-minister had a meeting with the ministry of finance and the state revenues committee Wednesday to discuss issues on the new law about income tax that came into force on January 1, 2013.
Under the new law, article 13 in particular, tax agents are obliged to submit their income tax summary report, in the form established and only in electronic format, not later than on the 20th day of the month following the reporting month.
The number of taxpayer electronic submissions rocketed with introduction of the new report. This, in turn, created technical problems in Armenia’s state registry system and delays in reporting, according to the report.
New income tax model is used in Armenia in connection with the new funded pension system introduced on January 1, 2011.
Under the new income tax law, the overall social payment amount is to be deducted from employee’s salary (before, most part of it was paid by employer). Employers, in their turn, must raise the salaries in a way that actual income of employee is not reduced. -0-