ArmInfo. According to the effective January 1, 2018, the Tax Code improves conditions for business entities paying VAT. Tigran Kirakosyan, Head of the Monitoring and Audit Department of the State Revenue Committee of Armenia, stated this during a March 22 press conference.
He explained that if on the 21st day of the month following each reporting half year the VAT payer has a refundable VAT amount, then on the basis of a written application of the VAT payer, this amount will be credited to a single account within 3 days in case of justification based on the audit results or examination in accordance with the procedure established by section 17 of this Code.
However, those VAT payers who did not conclude such transactions, according to the regulations in force before 2018, did not have the legal capacity to send such reimbursable (debited) amounts to cover tax liabilities or to return them. "Under the RA Tax Code, VAT payers are given the opportunity to more effectively manage, manage, use their current assets," he said.
In particular, the head of the department noted that, as of March 21, KGD had already received 34 applications regarding the examination of amounts to be paid on a single account - in the amount of the claimed amount of 8.6 billion drams. Based on the results of the 9 applications examined, the amount of 464.2 million drams was justified, which was introduced into a single account, and the amount of 75.2 million drams remained unjustified. Another 25 applications are under consideration, concluded T. Kirakosyan.