of December 28, 2010 No. ZR-208
About introduction of amendments and changes in the Law of the Republic of Armenia "About the value added tax"
Accepted by National Assembly of the Republic of Armenia on December 22, 2010
Article 1. In article 3 of the Law of the Republic of Armenia ZR-118 of May 14, 1997 "About the value added tax":
The second paragraph after the word "revenue" to add 1) with words ", and in case of sales of goods on commission basis, it agrees to the procedure established by the legislation of the Republic of Armenia, total cost of the sold goods (including the VAT)",
2) words of the second paragraph "Provisions of the first paragraph of this Article do not extend" shall be replaced with words "the threshold of the VAT established by this Article is not applied",
The third paragraph to add 3) with the Items "z" and "i" of the following content:
"h) to persons who have leviable turnover received from transactions on realization of the goods imported to the Republic of Armenia in the "import for free circulation" mode for the purpose of trading activity (sale) (for whom customs authorities is not calculated and is not levied the value added tax) included in the list approved by the law for any moment of accounting year exceeds 1 million dram.
In the case provided by this Item person is considered the payer of the VAT from the moment of excess of threshold by 1 million dram until the end of this calendar year by the part exceeding 1 million dram and as regards other leviable transactions.
In sense of this Item the property which was aloof without use (operation) is considered the goods imported to the Republic of Armenia for the purpose of trading activity (sale),
i) in relation to persons which are considered connected for the purposes of the taxation, the stipulated in Clause 11.1 Laws of the Republic of Armenia "About taxes".
Article 2. This Law becomes effective since January 1, 2011.
President of the Republic of Armenia
S. Sargsyan
(c) Soyuzpravoinform LLC
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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