Friday, April 26 2024 16:13
Alexandr Avanesov

New tax reporting mechanism to be introduced in Armenia 

New tax reporting mechanism to be introduced in Armenia 

ArmInfo.A new mechanism for submitting tax reporting and obtaining data from your personal account will be introduced in Armenia. At a meeting on April 26, the RA National Assembly Commission on Economic Issues issued a positive  conclusion on the amendments to the Tax Code presented by the RA  government.

According to Deputy Chairman of the State Revenue Committee of the  Republic of Armenia Artur Manukyan, the innovations are aimed at  reducing the volume of document circulation and saving human  resources and time.

Currently, when submitting numerous documents to a taxpayer's  personal account or receiving data from a taxpayer's personal  account, which are submitted to state and local authorities, they are  considered approved if signed by a representative of the tax service.  Now it is proposed to introduce a QR code system, in the presence of  which the presentation of many documents, including the taxpayer's  address, number of employees, etc., will no longer be necessary on  its own, since all data will be presented in a QR code.

Since applying the law will be quite costly, it is proposed that the  document come into force on January 1, 2026.

Currently, technical specifications are already being prepared for  suppliers of the necessary equipment, which should be operational by  the end of this year in order to carry out pilot work in 2025.