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LAW OF THE REPUBLIC OF ARMENIA

of July 20, 2022 No. ZR-301

About entering of amendments into the Law "About Trade and Services"

Accepted by National Assembly of the Republic of Armenia on July 7, 2022

Article 1. No. ZR-134 "About trade and services" (further – the Law) to add the law of November 24, 2004 with Chapter 4.3 of the following content.

"Chapter 4.3. Shares

Article 15.4. Share

1. The share is the action performed in the course of the organization of sale or rendering service by the seller or person rendering service (further – person performing the share), directed to promotion of goods or services among consumers or realization growth in volumes.

2. The share is performed by the following methods:

1) discount;

2) other action which is not connected with the change in price of sales of goods or rendering service.

3. The adjustments established by this Chapter extend to any action corresponding to the characteristic of the share in sense of this Law irrespective of the name which is actually applied to the performed action.

4. This Chapter is not applicable to the tax relations.

Article 15.5. Discount

1. The discount is short-term decrease in average price of sale of goods or rendering service within one month preceding the beginning of the share which is performed by public informing on percentage expression of reduction of price of goods or service or on reduced price and assumes recovery after the termination of discount of the price established before application of discount, except as specified, when establishment of other price other than the previous price is caused by economic conditions (factors).

2. Reduction of price is not considered discount if the seller or person rendering service on declares implementation of the share by it or publicly does not specify, does not report or otherwise does not inform on reduction of price.

3. Percentage reduction of price of goods or service is made below average price of sale of goods or rendering service within one month preceding the moment of the beginning of the share.

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