Armenia`s tax authorities on peculiarities of taxation when renting  apartment

ArmInfo. The income received from renting real estate is subject to taxation, the State Revenue Committee of Armenia (SRC) reminded.

According to the source, a taxpayer is obliged during the tax year  (from January 1 to December 31 inclusive) to calculate and pay income  tax to the state budget at a rate of 10% of the income received from  renting out property. The income tax calculated for each tax year  must be paid to the state budget (to the treasury account) by April  20 of the following year inclusive.

At the same time, if the gross rental income for the reporting year  exceeds 60 million drams, then an additional income tax of 10% is  calculated and paid on the part exceeding this amount.

In case of delay in payment of tax from the established deadline, the  taxpayer shall pay a fine of 0.04 percent for each day of delay.