ArmInfo. Fines and penalties for property tax assessed due to errors by state and local authorities of Armenia will be reset to zero. The National Assembly of the Republic of Armenia adopted amendments to the Tax Code of the Republic of Armenia in the second and final reading at the plenary session on January 21.
As the head of the Cadastre Committee Suren Tovmasyan noted in his speech, since 2021, all information on real estate has been integrated into a single information base, on the basis of which the calculation of real estate tax assessment is made. However, only now have the authorities drawn attention to the numerous shortcomings in the information base, on the basis of which citizens were assessed lower tax rates, which led to fines and penalties. Now it is proposed to establish a provision according to which, if errors occurred in calculating fines and penalties due to problems in the information base, all fines and penalties will be reset to zero. This provision will apply to all errors from 2021. After the law comes into force, a recalculation will be made and accrued for future payments.
