Monday, August 8 2022 16:17
Naira Badalian

State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"

State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"

ArmInfo.The State Revenue Committee (SRC) of Armenia announces that it is starting active administration in pursuance of the requirements of the law "On  Non-Cash Transactions".  

Let us recall that from July 1, 2022, the law "On non-cash transactions" came into force, which obliges transactions in the amount of more than 300,000 drams to be carried  out in a non-cash way. In addition, for certain transactions, such as  scholarships, public procurement, payment for medical, educational,  notary, lawyer, including consulting services, the requirement to  make them completely non-cash comes into force.  Wages and loans  provided by banks and credit companies will be non-cash. Repayment of  loans and insurance indemnities will also be carried out in a  cashless manner.

The press service of the State Revenue Committee reminded that at the  end of June it was announced that in case of objective problems (if  any) the administration will not be carried out, the Committee will  carry out simplified administration at the initial stage, directing  control to risk areas in accordance with the developed risk criteria.  At the same time, the Committee urged taxpayers to take all possible  measures to ensure the fulfillment of the requirements established by  the RA Law "On Non-Cash Transactions".

Since July 18, in order to facilitate the process of activating the  function of accepting non-cash payments through cash registers, an  application for activating the function of accepting non-cash  payments through cash registers has become available in the  <electronic reporting system>. <The application submitted by the  taxpayer will be submitted by the State Revenue Committee to the  relevant commercial bank - participant of the open offer of the  Central Bank of Armenia - "ACBA Bank" OJSC or "Ameriabank" CJSC. On  the basis of the applications received, the latter will initiate the  activation of the function of accepting non-cash payments through the  cash ragisters, indicated in the application>, the State Revenue  Committee of the Republic of Armenia said in a statement.

However, as noted in the Tax and Customs Committee, the analysis  shows that there are many taxpayers who have not yet taken adequate  measures to ensure the possibility of accepting non-cash payments.   "Taking into account the abovementioned, the Committee declares that,  within the framework of its powers, it begins active administration  in order to comply with the requirements of the RA Law "On Non- Cash  Transactions", the State Revenue Committee said in a statement.

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