LAW OF THE REPUBLIC OF ARMENIA

of December 28, 2012 No. ZR-236

About the receipts tax

Accepted by National Assembly of the Republic of Armenia on December 19, 2012

Article 1. Subject of regulation of the law

This law governs the relations connected with calculation and the tax discharge from turnover in the Republic of Armenia, the circle of taxpayers, the tax rates of the receipts tax, procedures of payments and payments establishes.

Article 2. Concept of the receipts tax

1. The receipts tax is the tax paid in accordance with the established procedure, the sizes and terms to the government budget for activities of trade organizations, individual entrepreneurs and notaries replacing the value added tax (VAT) and (or) the income tax.

2. For trade organizations the receipts tax replaces the VAT and (or) the income tax. In the receipts tax the settlement size of tax from profit is accepted 40 percent.

3. For individual entrepreneurs and notaries the receipts tax replaces the VAT.

Article 3. Termination of tax benefits

1. For taxpayers from turnover as regards the relations regulated by this law the tax liabilities established by the tax legislation as regards the VAT and tax on profit stop.

Article 4. Taxpayers from turnover

1. In the Republic of Armenia from turnover taxpayers (further – persons), except as specified, specified in part 3 of this Article can be considered as taxpayers the meeting conditions established by part 2 of this Article which are considered as resident of the Republic of Armenia trade organizations, individual entrepreneurs and notaries, including, recently created (received state registration or registered):

1) since January 1st every year until the end of this year (except for the case provided by the law if person is considered the payer of the VAT for this year) if till February 20 of this year submitted in tax authority of the registration the application for formation by the taxpayer from turnover in the form established by the head of tax authority

2) from the date of state registration or registration of the individual entrepreneur or appointment as the notary until the end of this year (except for the case provided by the law if person is considered the payer of the VAT for this year) if recently created (the received state registration or registration of the individual entrepreneur or appointment of the notary) persons from the date of state registration or registration of the individual entrepreneur or appointment as the notary till 20th day after this day submitted in tax authority of the registration the application for formation by the taxpayer from turnover in the form established by the head of tax authority

3) if persons from the date of the termination of existence as the subject of family entrepreneurship (except for the case provided by the law if person is considered the payer of the VAT for this year), till 20th day after this day provided to tax authority of the registration the announcement of formation by the taxpayer from turnover in the form established by the head of higher tax authority.

2. From turnover persons who have for the previous calendar year on all types of activity profit excluding VAT (further can be considered as taxpayers – realization turnover) from the delivered goods and the provided services (the performed works) 115,0 of one million dram did not exceed. From the point of view of application of this provision turnover of realization includes also realization turnover as regards fixed payments and (or) license fees and (or) family entrepreneurship (profit on realization), and for calculation of turnover of realization of operational entity in case of reorganization of trade organization (connection, merge, separation, separation, restructuring) turnovers of all organizations participating in restructuring for the previous calendar year are the basis.

3. As taxpayers from turnover cannot be considered:

1) persons paying fixed payments and (or) license fees according to the laws of the Republic of Armenia "About fixed payments" and (or) "About license fees" as regards these types of activity,

2) producers and (or) importers of goods, taxable excise tax,

3) the banks, credit institutions, insurance companies, investment firms, specialized members of the security market, pawnshops performing activities of purchase and sale of currency, dealer-broker purchase and sale of currency, the investment funds managing funds, the payment-settlement organizations, organizers of casino, gamblings, lotteries, the audit companies, the organizations providing services of financial accounting.

4) trade organizations, individual entrepreneurs, notaries, if:

a) 20 percent of share (shares, part) and more authorized (equity) capital of trade organization belong to other resident of the Republic of Armenia of trade organization or physical person who is the individual entrepreneur or the notary

b) 20 percent and more (shares, part) the authorized (equity) capital of trade organization belong to the physical person who is not the individual entrepreneur who at the same time possesses 20 percent and more authorized (equity) capital of share (shares, part) of other resident of the Republic of Armenia - trade organization.

c) the trade organization, the individual entrepreneur or the notary possesses 20 percent and more share (shares, part) the authorized (equity) capital of the trade organization which is resident of the Republic of Armenia

d) for the term, stipulated in Item 6 first paragraphs of article 5 of this law allowed the third case of abuse of regulations of operation of control cash registers, from the date of fixation of violation before the expiration of one calendar year after violation.

5) based on the data received from the third parties (including – from state bodies) or as a result of operational investigative actions, persons recognized connected only by the decision of the head of higher tax authority, according to the procedure established by higher tax authority based on coordinated action, proceeding from common economic interests if their total turnover of realization exceeds 115,0 of one million dram,

6) persons which are the agreement party of joint activities, the agreement party of the agency providing action conditions on behalf of the commission of delivery of goods or the agent.

3.1. In the cases provided by subitems "an" - "in" item 4 of part 3 of this Article, the organization, the individual entrepreneur and the notary, in case of satisfaction of other conditions established by the law, are considered (continue to be considered) as taxpayers from turnover if persons specified in these subitems provided the announcement of the termination of activities to tax authority and did not perform the actual activities.

4. Taxpayers are considered as taxpayers from turnover on all types of activity, except for those types which are already assessed with tax fixed and (or) license fees.

5. In sense of this law the organizations created (which received state registration, registered) in the Republic of Armenia are considered as residents of the Republic of Armenia.

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