LAW OF THE REPUBLIC OF ARMENIA

of November 13, 1997 No. ZR-153

About entering of amendments into the Law of the Republic of Armenia "About taxes"

Accepted by National Assembly of the Republic of Armenia on October 21, 1997

Article 1. "About taxes" after part three to add article 16 of the Law of the Republic of Armenia with new part of the following content:

"The authorized bodies making decisions concerning dissolution of the legal entity of the company which does not have the status of the legal entity, or the termination of activities of the individual entrepreneur in seven-day time in writing inform bodies of tax authorities on decision making about dissolution (the activities termination)".

In this regard speak rapidly the fourth and fifth Articles to believe respectively parts five and the sixth.

Article 2. To add the last part of article 23 of the Law with the words "but no more, than for 365 days".

Article 3. To add the law after Article 30 with new Article 30.1 of the following content:

"Article 30.1. In case of detection of violations of the tax legislation the tax liabilities cannot arise if this violation is revealed after three years, directly subsequent to year of its making.

The current of the prescriptive limit established by part one of this Article stops if owing to absence of the taxpayer, officials of the taxpayer or other interfering actions the attempt of tax authorities of check, or otherwise calculation of the tax liabilities failed, from the moment of recording of the fact of failure by the corresponding official of tax authority according to the procedure, established by the Government of the Republic of Armenia. After the termination of the bases of suspension provided by this part, the current of prescriptive limit proceeds if tax authority or the corresponding official knew or could know about the termination of the bases of suspension".

Article 4. Add the Law with new article 45 of the following content:

"Article 45. The term provided by part four of article 23 of this Law is applied (it is considered term reference mark) since July 1, 1997.

Article 30.1 of this Law becomes effective since January 1, 1998".

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