Armenia to introduce digital customs system to enable electronic  calculation and settlement of  customs obligations 

ArmInfo Armenia will introduce a digital customs system to enable electronic  calculation and settlement of customs obligations. During its session  on September 24, the RA National Assembly Committee on Economic  Affairs issued a positive opinion on the amendments to the Law "On  Customs Regulation" submitted by the government.

According to Hamlet Sahakyan, Deputy Chairman of the RA State Revenue  Committee, digitalizing the system for calculating and settling  customs obligations should result in time and money savings.   Specifically, it is planned to use a single account for both  replenishing and settling obligations, regardless of the customs  authority and type of payment. This  will significantly simplify the  tracking of cash flows and provide easy access to individual accounts  for participants in foreign economic activities. Additionally,  automatic calculation and recording of penalties as outlined by law  will allow for automatic repayment of obligations, streamlining the  process of  overpayments and refunds.