2,000 self-employed people in Armenia to enjoy tax exemption
02.02.2017,
11:31
As many as 2,000 self-employed people in Armenia will enjoy tax exemption, and tax preferences will amount to AMD 400 million, the State Revenue Committee of Armenia reported on Wednesday.
YEREVAN, February 2. /ARKA/. As many as 2,000 self-employed people in Armenia will enjoy tax exemption, and tax preferences will amount to AMD 400 million, the State Revenue Committee of Armenia reported on Wednesday.
On January 1, 2017, the law on tax preferences for self-employed people came into force.
In accordance with the law, self-employed people engaged in 23 kinds of activities will be exempted from al types of taxes, but VAT on imports.
Hrachya Muradyan, chief of the State Revenue Committee’s tax methodology division, said those individuals and private entrepreneurs who have no hired workers and whose earnings from all kinds of their activities don’t exceed AMD 9 million as well as those organizing their activities in one facility independently without signing any joint business contact are considered self-employed.
He said that this category includes people who repair clothes, wooden ware, furniture, computers, TV sets, washing-machines, conditioners and other household appliances as well as citizens teaching private lessons etc.
A simplified procedure is necessary for formalizing tax preference – self-employed persons submit applications to the tax agency with mentioning kinds of their activities and period of engagement in these activities.
On the next day they will receive their tax exemption licenses for free.
Muradyan said that 813 self-employed people applied for tax preferences in January 2017. ($1 – AMD 485.97). --0---
On January 1, 2017, the law on tax preferences for self-employed people came into force.
In accordance with the law, self-employed people engaged in 23 kinds of activities will be exempted from al types of taxes, but VAT on imports.
Hrachya Muradyan, chief of the State Revenue Committee’s tax methodology division, said those individuals and private entrepreneurs who have no hired workers and whose earnings from all kinds of their activities don’t exceed AMD 9 million as well as those organizing their activities in one facility independently without signing any joint business contact are considered self-employed.
He said that this category includes people who repair clothes, wooden ware, furniture, computers, TV sets, washing-machines, conditioners and other household appliances as well as citizens teaching private lessons etc.
A simplified procedure is necessary for formalizing tax preference – self-employed persons submit applications to the tax agency with mentioning kinds of their activities and period of engagement in these activities.
On the next day they will receive their tax exemption licenses for free.
Muradyan said that 813 self-employed people applied for tax preferences in January 2017. ($1 – AMD 485.97). --0---
