Armenian National Assembly passes amendments to tax law

YEREVAN, September 29. /ARKA/. On Monday, Armenian National Assembly passed at the second and final reading amendments to the tax law.

Khosrov Harutyunyan, one of the authors of the amendments, said presenting the bill that it will be specified in the amended law that all new laws on increasing one or another tax rate or introducing a new type of taxes can take force only from the beginning of the fiscal year following the year when these laws are adopted.  

“It means the amendments give sufficient time to taxpayers for becoming familiar with the changes and bringing their businesses in tune with them,” he said. 

Harutyunyan said that if the 2015 government budget is not approved before the end of this year, the laws implying increase of one or another tax or introducing a new tax may take force from the moment of the government budget enforcement, but not earlier than the beginning of the sixth month after official publication of these laws.   

He also said that bills decreasing tax rates, mitigating conditions of taxpayers’ activities or repealing taxes are in force from the beginning of the next fiscal year after their passage, but no later than in 30 days after their official publication and regardless of enforcement of the government budget. ---0----