In general, the tax system in Armenia offers small and medium-sized businesses a number of tax advantages to allowing this sector to stabilize and develop. The tax legislation rules in Armenia are rather flexible and are subject to frequent changes. These changes often happen so quickly that even many professionals do not have time to respond in time.
From January 2020 Armenian switched to a flat income tax rate that sets income tax at 23% for each RA citizen regardless of their income size and will continue to decrease to 20% by 2023
Recently, on 16 June 2020, major amendments took place in the tax legislation of the RA Tax Code. According to the law on amending the Tax Code, it will no longer be necessary to submit an application by March 20 of each tax year for the selection of an alternative method of making profit tax prepayments.
Being in compliance with the local and international tax systems is of utmost importance for any international and local company which works in Armenia. Tower’s approach is to ensure this compliance in combination with the best design and solutions that would make operations and transactions of our Client companies doing business in Armenia efficient and...
Following the formation of a new government in Armenia in mid-2018, Tower International Consultants cjsc expects
The new law on changes in Armenian Tax Code after getting the approval from RA Government passed to RA National Assembly for approval. The main objectives of the project package are to make changes to the national tax burden and investment redistribution, as well as ongoing simplification of the micro-enterprise taxation system. In this short...
According to the changes made to the RA law “On Excise Taxes” the excise tax rates on alcoholic drinks, tobacco products and petrol