ArmInfo. Overpayments accumulated in the line of the minimum profit tax and in the future can be directed to repayment of tax liabilities formed under the income tax. This was stated at the meeting with journalists by the Deputy Minister of Finance of Armenia David Ananyan on December 8 in Yerevan.
As the deputy minister reminded, from 2004 to 2014, In Armenia, there was a legislative requirement to pay a minimum income tax. Since January 2014, having refused such a rule, the state has enabled taxpayers to send overpayments accumulated under the minimum income tax to pay off tax liabilities formed under the profit tax without any time restrictions.
The Tax Code, however, introduced a new legal rule, providing for temporary restrictions - until January 1, 2017. In the framework of the legislative initiative, the Ministry of Finance refuses the above norm, thereby returning to the previous setting.
