ArmInfo. The Armenian State Revenue Committee explained the procedure for calculating the tax on income for individuals when importing a second car.
According to the statement of the SRC, according to subparagraph 16 a of paragraph 147 of Article 1 of the Tax Code of the RA (NK), if individuals acquire and alienate two or more cars during the tax year, this is considered a business activity and is legally taxed income of 20%.According to subparagraph <b> of the same article, if the alienation of the car took place at a price that is unreasonable below the market value, then the price of the car alienation will be equal to 80% of the market value.According to 54 clause 4 of Article 1 of the Tax Code, alienation is the transfer of one person's property to another in the form of goods and (or) work performed, or compensation (including partial or gratuitous) through the provision of services.Until July 1, 2018, individuals who issued a deed of gift to a private entrepreneur and other non- notary individuals during the tax year were not taxed, since the physical person did not generate income due to the lack of grounds for applying the cash method of settlement.The SRC states: "Regulation of the issue is possible only by legislative decisions, which is outside the authority of the Committee."
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