LAW OF THE REPUBLIC OF ARMENIA

of December 28, 2012 No. ZR-238

About modification and amendments in the Law of the Republic of Armenia "About the income tax"

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

Article 1. In article 3 of the Law of the Republic of Armenia ZR-155 of September 30, 1997 "About the income tax" (further – the Law):

1) part 2 after words of "rules" to add with words ", about the used computer program for financial accounting",

Part 3 to add 2) with the new offer of the following content: "In sense of application of this Law performed by results in the procedure for reestimation established by the Law results of reestimation of assets and (or) obligations are considered if reestimation was performed according to that law in which it is directly specified that reestimation of assets and (or) obligations is performed for the purpose of calculation of leviable profit or the income tax.".

Article 2. In article 7 of the Law:

1) in part 2:

a) state the subitem "p" in the following edition:

"o) repayment sums earlier written off in the procedure for hopeless receivables established by the Government of the Republic of Armenia or in case of repayment of not written off receivables – the amounts of the deductions made in reserve in accordance with the established procedure, and in case of banks, credit institutions, insurance companies and spetsializovanny persons in the field of securities, added as a result of recovery in balance of the bad assets which are earlier written off in established jointly by the authorized Central bank of the Republic of Armenia body and the Central bank of the Republic of Armenia from balance and investment securities, and in case of the assets which are written off from balance – imputed incomes in reduction of the reserves created in accordance with the established procedure,",

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