Friday, December 27 2019 13:04
Alexandr Avanesov

SRC of Armenia calls on employers to refrain from using the  preferential tax system for micro-business enterprises for other  goals

SRC of Armenia calls on employers to refrain from using the  preferential tax system for micro-business enterprises for other  goals

ArmInfo. The State Revenue Committee of Armenia calls on employers to refrain from using the preferential tax system for micro-business enterprises for other  purposes.

As noted in the SRC appeal, from January 1, 2020, resident commercial  organizations and individual entrepreneurs with sales turnover of up  to 24 million drams are exempted from paying taxes. This measure is  aimed at promoting exclusively small and medium-sized businesses  through the provision of tax benefits. At the same time, there are  risks that the introduction of a micro-enterprise system may be used  by dishonest taxpayers who will try to offer their employees  registration as a micro-enterprise entity in order to avoid tax  liabilities.

In this regard, the State Revenue Committee urges employers and  proponents to refrain from using the privileged micro-enterprise  system for other purposes. At the same time, according to the report,  SRC hasappropriate technical and analytical capabilities to identify  these risks, which avoids tax evasion.  Earlier, ArmInfo reported  that from January 1, 2020 Armenia will abandon two alternative tax  systems - self-employed and family entrepreneurship, and  micro-entrepreneurship with an untaxed threshold of up to 24 million  drams will replace it. Entities of micro-entrepreneurship will not be  considered business entities that carry out specialized activities,  in particular, accounting, advocacy, and consulting. Micro- business  will be exempted from all types of taxes except  income tax, which  will make 5 thousand drams.

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