ArmInfo.The grounds for terminating tax obligations have been revised in Armenia. In connection with the changes, the tax authority will initiate the process of terminating tax obligations on these grounds.
In particular, as reported by the State Revenue Committee (SRC) of Armenia, as a result of changes made to the Tax Code on October 25, 2023, among other grounds for termination of activity, the following are provided:
- The tax obligation of an individual who is not an individual entrepreneur and a notary is terminated if 5 years have passed from the date of the deadline established by the Tax Code and the laws of the Republic of Armenia on fees for the fulfillment of tax obligations not exceeding two million drams;
- The tax obligation of an organization, individual entrepreneur and notary terminates if two 7 years have passed from the date established by the Code and the laws of the Republic of Armenia on fees for the fulfillment of tax obligations not exceeding 2 million drams.
