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LAW OF THE REPUBLIC OF ARMENIA

of April 12, 2023 No. ZR-120

About modification and amendments in the Tax code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on March 22, 2023

Article 1. In part 8 of article 62 of the Tax Code of the Republic of Armenia of October 4, 2016 (further - the Code):

1) the last offer of the first paragraph to exclude;

To add 2) with the third paragraph of the following content:

"Provisions of the first paragraph of this part are not applied:

1) if the state or community is considered the party of the transaction on alienation of the property units established by the first paragraph of this part (except as specified when the transaction is made by means of other organization);

2) in case of transactions on alienation by bank or credit institution of such property units established by the first paragraph of this part, the right of pledge of bank or credit institution to which was registered before entry into force of the Law of the Republic of Armenia "About establishment of procedure for the cadastral assessment which is brought closer to market value of the real estate for the purpose of taxation on the real estate", and this property was transferred to bank or credit institution on the property right as a result of purchase at the forced biddings or the biddings on bankruptcy.".

Article 2. The subitem "o" of Item 47 of part 2 of article 64 of the Code before words of "the leasing agreement" to add with words "the organizations, the individual entrepreneur or the notary who is considered as the payer of the VAT for date of acceptance of subject of leasing".

Article 3. To add part 1 of article 108 of the Code with Item 26 of the following content:

"26) income of the income tax payer gained from alienation of shares, shares or shares in other organizations if alienation of the share, share or share is made after two tax years following after the tax year including day of share acquisition, share or share.".

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