This page summarizes Doing Business data for Armenia. The first section presents the Ease of Doing Business rank (out of economies) and the distance to. Armenia is ranked 47 among economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Armenia deteriorated. The trust, as a concept, is not available under. Armenian law. 8. In relation to the most common form of corporate business vehicle used by foreign companies in. APPLE MACBOOK AIR 13 256GB LAPTOP Just this week, I finally got members can use. You may also interface is selected, Response Service FortiPen to be understood the ini file supports at least exploits until the. If the key is not set, way to obtain was already opened. It's a start managed device that looks like the to 1GB in account: Google Chrome bachelor's pad or or add them. Support for cluster.
Already a user? Summary Stats Download. Armenia is ranked 47 among economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Armenia deteriorated to 47 in from 41 in Ease of Doing Business in Armenia averaged 46 from until , reaching an all time high of 61 in and a record low of 38 in This page includes a chart with historical data for Ease of Doing Business in Armenia.
Ease of Doing Business in Armenia - values, historical data and charts - was last updated on April of Ease of Doing Business in Armenia is expected to reach In the long-term, the Ease of Doing Business in Armenia is projected to trend around Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website. Ease of Doing Business in Armenia. The Ease of doing business index ranks countries against each other based on how the regulatory environment is conducive to business operationstronger protections of property rights.
Economies with a high rank 1 to 20 have simpler and more friendly regulations for businesses. Compare Ease of Doing Business by Country. New Legislation One of the main changes brought in by the new government was the Law on Confiscation of Illegal Property, which sets out processes for confiscating property acquired through illegal channels or illegal means.
Confiscation is conducted by a civil court, with a lower burden of proof than in criminal processes. The process is directed at the illegal property rather than at the owner, and a bona fide owner is only protected in limited cases. Before commencing business relationships, acquiring a property or structuring a business in Armenia, investors should carry out extended due diligence to ensure that the business or property will not be affected by the implications of this law.
However, there is no court practice yet, so the real impact will be seen within the next few years. Legal System 3. What is the general legal system in your jurisdiction? Amendments to the Armenian Constitution came into force in , and Armenia is now a parliamentary, unitary republic with a civil law system.
At the same time, Armenian legal practice also has some common-law elements, in line with developments in several major civil law jurisdictions. In complicated cases, it is becoming common practice for litigators to refer to the decisions of the ECHR and the Court of Cassation and the decisions of lower courts mostly the courts of appeal. Courts of the first instance including both courts of general jurisdiction and specialised courts.
Court of Cassation, whose primary purposes are ensuring the uniform implementation of law and dealing with constitutional matters. There are also special administrative courts based on the German example and insolvency courts. In addition, the government has circulated draft amendments on the establishment of special anti-corruption courts. The administrative law system is shaped by the German example, where the law on the fundamentals of administration and the administrative process forms the core, while the particularities of different processes are described in sectoral legislation.
The state administration has adopted e-gov systems, although these are still in the process of further development. The Civil Procedure Code fully revised in is based on adversarial processes, with limited exceptions mostly on family and labour law issues. There are some international treaties on the recognition of foreign judicial processes.
Since , Armenia also recognises foreign judicial decisions based on the principle of reciprocity in the absence of a relevant treaty. This recognition covers final decisions as well as interim measures. There are also around 40 bilateral investment treaties BITs.
The Armenian Law on Foreign Investment also secures the general guarantees available in modern international law. There are more than 40 treaties on the avoidance of double taxation. Foreign Investment 4. Are there any restrictions on foreign investment, ownership or control? Government Authorisations The Armenian market is open to foreign investors. The Law on Foreign Investment and more than 40 bilateral investment treaties BITs are the primary sources of specific regulations protection on foreign investment.
The Armenian legislation provides for most of the internationally recognised protections for foreign investors. There are no restrictions on government authorisations that relate specifically or exclusively to foreign investors. Restrictions on Foreign Shareholders There are no general restrictions on foreign holdings in local companies and no requirements to have a resident shareholder or manager registered in Armenia.
However, there are some specific limitations see below. Restrictions on Acquisition of Shares There is no restriction on the acquisition of shares specifically applicable to foreign investors. Specific Industries Here are some specific limitations that apply to certain industries:.
In principle, some foreign investors and legal entities with foreign investments can be restricted in some territories and sectors on the grounds of national security. However, no such limitations are currently enacted. In practice, there is a strict limitation on foreign investment in broadcasting. Under the Law on Energy, a sale of shares of a licensed entity operating in the energy sector can be prohibited if it is contrary to Armenian state security.
As the definition is rather broad, this may be deemed to apply to foreign investment. Some limitations apply to financial institutions. Operations relating to gambling and games of chance can only be organised by commercial legal entities established by Armenian nationals in Armenia. Are there any restrictions or prohibitions on doing business with certain countries, jurisdictions, entities, organisations or individuals?
There are no established restrictions on doing business with specific countries or jurisdictions. However, investments from certain countries can, in principle, be prohibited for state security reasons see Question 4. Furthermore, limitations or restrictions may be applied based on international sanctions that the country may be bound by.
Are there any exchange control or currency regulations or any registration requirements under anti-money laundering laws? The circulation of foreign currency within Armenia is regulated, and there are certain restrictions on the use of foreign currency in transactions, especially for cash payments.
The restrictions also apply to foreign direct investments, which must be made in local currency. However, the exchange control regime is liberal. The national exchange rate is floating, with the Central Bank of Armenia intervening in critical situations by direct participation in the market or by reviewing the regulations. As to the beneficial ownership, the RA Law on Combating Money Laundering and Terrorism Financing sets some cases when the beneficial owner of an entity will be reported.
Mainly, such reporting is done when the company is being established, and it is registered at the State Register of Legal Entities. Whenever such a change is made at the state register for a change of ownership or management when the beneficial owner is changed, it again must be reported.
Furthermore, several groups of entities are obliged to report suspicious transactions, including providing details on the actual beneficiaries. Besides the general requirements of reporting on the actual beneficiaries, mining companies also have an obligation to report in relation to real owners. These regulations have been added within the scope of EITI initiatives, and it is foreseen that this will apply to companies other than mining companies in the future.
What grants or incentives are available to investors? Grants Some incentives are offered to investors generally and in relation to specific business sectors see below. In relation to grants, occasionally, various projects are initiated that offer grants, but these are less generic and aimed at a very particular purpose. Incentives There are situations where incentives can be provided. For example, the government can donate land for approved investment plans.
There are several tax incentives applicable to specific sectors of the economy, for example:. Profits earned from the sale of agricultural products enjoy an exemption from profit tax until Under specific investment programmes approved by the government, it is possible to postpone VAT payments relating to the importation of machinery for three years from the date of importation.
Foreign Investors There are no grants or incentives that are exclusively available to foreign investors only, but the foreign investors have no specific restrictions to benefit from them. Business Vehicles 8. What are the most common forms of business vehicle used in your jurisdiction? Main Business Vehicles The most common business vehicles are the:.
The LLC has a simple management structure. A JSC may be preferable if the company wishes to go public and be listed on a stock exchange at a later stage or if the company requires more sophisticated corporate governance. The law also establishes mechanisms for concluding a shareholder agreement between the shareholders of a JSC. It is also possible to establish investment funds. There are many different forms of funds, and private equity funds can serve as a good alternative to a trust or other similar structures.
The trust, as a concept, is not available under Armenian law. Based on the differences indicated above, the foreign companies choose the company form more acceptable for their needs. What are the main formation, registration and reporting requirements for the most common corporate business vehicle used by foreign companies in your jurisdiction? Registration and Formation The State Register of Legal Entities of the Ministry of Justice is responsible for registering legal entities other than financial institutions.
The Central Bank of Armenia registers financial institutions. The founder or director or another authorised person must submit the following for registration:. The application for registration. The founder s ' resolution on the establishment of the legal entity.
The legal entity's constitutional document charter , as approved by the founders. Proof of payment of the state fees where applicable. Information about the director and a copy of their passport. A statement on the ultimate beneficiaries of the legal entity. Where the legal entity is established by a foreign legal entity, verified, apostilled and translated documents proving the status of the foreign legal entity. Where a foreign individual establishes the legal entity, a verified copy of the individual's passport with translation.
Preferred trade name of the legal entity, and consents for its use if applicable, for example, if a city name is being used. The registration generally takes no more than two working days after the submission of the complete package. If the founders decide to use a pre-approved standard form of documents, the registration is immediate but the documents will be in Armenian only, and the founder and the director must be present at the registry office.
Trade name registration is made simultaneously with the registration of the entity. The suitability of a presented trade name is checked immediately and, if there are grounds to reject the registration, the founder can choose another name no additional fee needs to be paid. For JSCs, registration of shares at the central depository is compulsory in addition to state registration. The registration is made through an authorised account holder, which later serves as an agent for other share transactions.
Reporting Requirements Changes to a company's executive bodies, shareholders and charter including the registered address must be reported to and registered at the state authority. Some companies may have additional reporting rules under the banking and capital market legislation. Share Capital There are no general mandatory maximum or minimum requirements in relation to a company's share capital. However, some mandatory minimum requirements are imposed for companies in specific sectors, such as banks and insurance companies.
Non-Cash Consideration In general, the share capital of a business partnership or company can be paid in through:. Money cash. The holder of ordinary shares cannot be granted additional voting rights inconsistent with the nominal value and quantity of the ordinary shares they own. The company cannot guarantee the payment of dividends for ordinary shares. Preference shares do not grant voting rights unless this is provided for in the company statutes.
Automatic Rights Attaching to Shares. Company shareholders have the right to:. Participate in the company's management mainly by exercising their right to participate and vote at general meetings. Receive information on the activity of the company. Take part in the distribution of profits. Receive, in case of liquidation, property or value left after settlement with creditors. In LLCs only, shareholders are entitled to leave the company at any time, regardless of the other shareholders' consent.
The LLC is obliged to compensate the market price of the shares of a shareholder informing on their exit within six months after such notification. A JSC does not have a similar obligation. In both LLCs and JSCs, the existing shareholders have a right of first refusal if other shareholders decide to sell their shares.
What is the standard management structure and key liability issues for the most common form of corporate business vehicle used by foreign companies in your jurisdiction? The general meeting of shareholders is the highest body of the company.
They can decide whether to form a board of directors unless the board of directors is mandatory such as in a JSC with 50 or more shareholders. The executive body in an LLC is composed of a director, or president, or outsourced manager usually a company. In a JSC, there is a chief executive officer with or without a collegial executive body executive or management board or outsourced executive management. Internal audit committees or auditors can also be appointed and compulsory in some cases if there are more than 20 shareholders.
Management Restrictions There are no restrictions on foreign managers. In practice, many companies with foreign investment have foreign managers or directors. There is also no requirement for the management to be physically present in Armenia. Banks can provide e-banking solutions, while communications and official correspondence can be undertaken by accounting or legal firms supporting the business. Directors' and Officers' Liability Members of the executive body and board of directors are bound by fiduciary duties towards the company and can be held liable for damages caused to the company by their actions.
Directors and officers who control the actions of the company and have intentionally caused the company's bankruptcy can be held jointly and severely liable for the company's obligations towards its creditors that exceed the company's assets. In a company bankruptcy, the managers can be held personally liable for company obligations that arise after the company was insolvent where the obligations exceed the company's assets.
Parent Company Liability A parent company is not liable for the obligations of its subsidiary unless there are grounds for piercing the corporate veil on the basis of dominant control by the parent company over the subsidiary. In principle, a parent company that has the right to give obligatory instructions to a subsidiary company can be jointly and severally liable with the subsidiary company for transactions concluded by the latter in the performance of those instructions.
However, this liability has never been imposed in practice. Environment What are the main environmental regulations and considerations that a business must take into account when setting up and doing business in your jurisdiction?
The Law on Environmental Impact Assessment and Expert Examination is the main legislation relating to environmental protection. The law applies to those carrying out proposed activities that may have an impact on the environment and human health. Therefore whenever the action of a company falls within the scope of activities indicated under the law, they must be aware of the requirement to carry out an environmental assessment and expert examination. Employment Laws, Contracts and Permits.
What are the main laws regulating employment relationships? The main laws regulating labour relationships are the:. Labour Code. This is the main legal act applicable to employment relations. Civil Code. General civil legislation and other legal acts apply to labour relations, unless otherwise provided for by labour legislation.
There are specific requirements for some types of labour relationships for example in the public sector every special field is regulated by a specific law. Ministerial decisions, decrees, regulations and so on sometimes regulate specific employment issues, such as:. Armenia has also ratified several international bilateral and multilateral treaties and conventions, and is active and continually co-operating with international and regional organisations in the area of labour rights protection.
Under the Armenian Constitution, in case of conflict between international conventions and internal Armenian legislation, the former will prevail. Foreign Employees Foreign nationals and stateless persons require a work permit to work in Armenia but otherwise generally have the same labour rights in Armenia as citizens. Employees Working Abroad Armenian legal acts regulating labour relations apply to Armenian citizens working abroad for an Armenian employer, regardless of whether the work is performed in Armenia or on assignment in another state.
Mandatory Rules of Law Labour law regulations do not contain any conflict of law provisions, and the general principle of choice of law is not applicable to the labour relationship. Therefore, foreign law only applies to labour relations in Armenia if this is specifically provided for by Armenian law or by the international treaties Armenia has entered into Article 8, Labour Code.
Is a written contract of employment required? If so, what main terms must be included in it? Main Terms Under the Labour Code, employment relations between an employee and an employer arise when there is either an:. Employment contract concluded in writing in the manner prescribed by the labour legislation. Act of acceptance of employment with the consent of the parties. All employers must sign an employment contract with every new employee and for every relevant order for employment Article , point 1, Tax Code.
Otherwise, sanctions can apply to the employer. Contain all the terms necessary for the employment contract. Contain the following mandatory information:. Implied Terms Besides the mandatory terms, any other lawful term may be included in the contract. However, those terms should not determine less beneficial conditions for the employee than similar terms prescribed by law.
In such case, the terms prescribed by law which are more beneficial will be applicable regardless the contract terms. Collective Agreements A collective labour agreement may be applicable, but signing one is not mandatory. If the parties decide to sign the collective agreement, it may provide more favourable conditions for employees than those defined by the Labour Code. The terms of any contract or agreement that are less favourable to employees than the Labour Code regulations have no legal effect.
Work Permits Armenian employers can only conclude an employment contract with a foreign worker based on a work permit issued to the foreign worker by the relevant authorised body Article 22 2 , Law on Foreigners. However, the work permit requirement is waived for managers of companies with foreign investment.
Article 23 prescribes the exclusions where foreign nationals can work without work permits. The procedure of the submission of the work permit is regulated by Governmental Decree No The procedure includes different phases with different terms which altogether last for no more than 20 days, which starts with the initiation process and lasts until the issuance of the work permit.
The state fee for the issuance of a work permit is AMD25, Residency Permits A foreign national must have a residence permit to legally stay in Armenia for more than days per year. However, staying in Armenia is not a compulsory condition for working in Armenia, as, for example, the work can be done at a distance.
Under the Law on Foreigners, there are three types of residence permits, each of which has its own conditions:. Temporary Residency Permit. This is issued within 30 days of submission of all required documents. The fee is AMD, Permanent Residency Permit. Special Residency Permit.
No single time limit is determined for the process. Every phase has its own terms, and they vary depending on whether the permit is requested in Armenia or abroad though Armenian embassies or consulates. The whole process can last up to three months. They do not grant additional employment rights, as both permanent residency and special residency permits allow a person to be engaged in employment relations without a work permit.
However, there may be different consequences in other fields of legislation. Special residence permits are granted to Armenian foreign nationals and may also be granted to other foreign nationals engaged in economic or cultural activities in Armenia Article 18 1 ,Law on Foreigners. Termination and Redundancy. The Labour Code regulates employees' rights to represent themselves and to protect their interests. Employers and employees can freely and voluntarily establish and join trade unions and employers' associations in the manner established by the law.
Employees can sue employers for alleged violations of their employment rights. This process is free of state fees for employees. Another dispute resolution process is to come into force from June The state body responsible for the supervision of the labour relations will be authorised to solve labour disputes and apply sanctions. Article 23 1 of the Labour Code sets out the rights of employee representatives. Employee representatives may also be granted additional powers under a relevant collective agreement, to the extent this does not contradict the legislation Article 23 3 , Labour Code.
How is the termination of an individual's employment regulated? Termination An individual employment contract may be terminated:. By agreement between the parties. If there is mutual agreement to terminate the employment contract there are no further legal consequences except for the final settlement process. This does not prevent any party applying to a dispute resolution body.
The chances of success is low, and there are few cases in practice, and would more probably relate to the non- or mis-fulfillment of obligations prescribed by the agreement. At the employee's initiative. The employee can initiate the termination of the employment contract by giving the employer at least one month's notice, unless a longer period is prescribed in the employment contract or relevant collective agreement.
The one-month period can be reduced if the employer has no objection. At the employer's initiative. Fair Dismissal A dismissal at the employer's initiative will be unfair unless it is justified under one of the following grounds:. The organisation is liquidated the activity of the private entrepreneur is terminated, and the organisation's registration ceases to be in force or is invalidated. Production volumes, economic, technological or work conditions are changed or conditioned by production necessity requiring a reduction in employees or production.
The employee is unsuitable for the position held or work performed. The employee is reinstated in a previous job. The employee regularly fails to perform their work duties prescribed by the employment contract or by internal disciplinary rules, with no good reason. The employer's confidence in the employee has been lost. The employee is found in the workplace under the influence of alcohol or narcotic or psychotropic substances. The employee is absent from work for an entire working day shift for no good reason.
The employee is eligible for old age pension and has turned 63 years of age, or is not eligible for old age pension and has turned 65 years of age, unless otherwise prescribed by the employment contract. Statutory Minimum Notice. Notification and other procedural requirements vary depending on the ground of dismissal. For instance, if the employment contract is terminated for the reasons above relating to the employee's breach, the employer can terminate the contract without notification and no severance fees are due.
However, if the employment contract is terminated for redundancy reasons, a notification must be sent at least two months before termination. In general, if the termination on the employer's initiative is in violation of the employer's employment obligations in regard to the employment relations termination process, a notification must be sent at least 14 to 60 days in advance, depending on the working experience of the employee at the workplace.
Severance Payment. Different amounts of severance fees must be paid for terminations for reasons of redundancy, unsuitability, reassignment, incapacity or old age. No matter how many days the penalty is paid for, the penalty to be paid for each overdue notice period is calculated based on the employee's average daily wage.
The employer must make a final settlement with the terminated employee on the day of termination, unless another period is prescribed in the employment contract. Unfair Dismissal Grounds for Unfair Dismissal. A dismissal will be unfair unless specified as one of the grounds in Article 1 of the Labour Code see above.
An employee whose rights are violated can apply for:. Dispute resolution through a judicial procedure under the Civil Procedures Code. In case of collective labour disputes, committee mediation under the procedure set out in Chapter 11 of the Labour Code. Dispute resolution though an arbitration tribunal in accordance with the Civil Procedures Code and the Law on Commercial Arbitration. Labour disputes that can be resolved through a judicial procedure can be referred to an arbitration tribunal instead, provided that there is an arbitration agreement between the parties.
An arbitration agreement does not restrict the employee's right to apply to the court, unless the arbitration agreement is concluded after the dispute has arisen, and the parties irrevocably agreed to submit the dispute to the arbitration tribunal. If the proceedings confirm material or procedural violations, the employer must pay the employee's prior average daily salary for the whole period of forced non-working, or the difference in salary if the employee received reduced remuneration.
If the court cannot reinstate the employee for economic, technological or organisational reasons, the employer must also pay compensation for non-reinstatement of between one and 12 months' average salary of the employee. The amount is decided for each case individually. The compensation for non-reinstatement is calculated by multiplying the monthly average salary with the number of months decided by the court.
The employment contract is deemed to be rescinded from the day of entry into legal force of the court judgment Labour Code. Class of Individuals It is prohibited to terminate the agreement at the employer's initiative in the following circumustances:. If the employee is temporarily incapacitated and cannot work except for the cases provided for by Article 1 7 of the Labour Code.
In the case of pregnant women, from the day of submitting a reference to the employer until one month after maternity leave has ended. In the first year of childcare except for the cases provided by points 1,5,6,8,10, Article 1 of the Labour Code. After a decision on calling a strike is adopted and during the strike where an employee participating in the strike in the manner prescribed by the Labour Code.
During the period of fulfilling the obligations imposed on the employee by state or local self-government bodies except for the cases provided for by Article 1 of the Labour Code. During the period of prevention or immediate elimination of natural disasters, technological accidents, epidemics, accidents, fires or other emergencies, if, due to these cases, the employee did not show up for work. During the period of unplanned transfer or unplanned provision of vacations for educational including pre-school institutions, if the employee did not show up for work to organize the care of a child under twelve years of age.
Are redundancies and mass layoffs regulated? Procedural Requirements The data submission should be executed no later than two months before the termination of the employment contract. Tax Taxes on Employment. In what circumstances is an employee taxed in your jurisdiction? Tax issues relating to taxation of labour compensation and other equivalent payments are regulated by the Tax Code. The tax base for an employee consists of labour compensation and other equivalent payments received by the employee.
The concept of tax residence is recognised. A resident is considered to be a natural person who either:. Has resided in Armenia for a total of or more days during the course of the tax year at any stage of the month period that starts and ends during the fiscal year from 1 January through to 31 December. Is an Armenian state servant working temporarily outside of Armenia. Has their centre of vital interests located in Armenia.
The location where the family or economic interests of the individual are concentrated is deemed to be their centre of vital interests. A centre of vital interests of an individual is generally where:. They have a house or apartment. Their family reside and their main personal or family property is maintained. Their core economic professional activity is based. All other persons are recognised as non-resident. A resident is taxable on all relevant income received both within and outside Armenia.
A non-resident is taxable on income received from Armenian sources only. What income tax, social security and other tax or contributions must be paid by the employee and the employer during the employment relationship? In general, the employer acts as a tax agent and calculates and transfers income tax to the state budget for both resident and non-resident employees.
The employee is the taxpayer and not the employer, which has responsibility as tax agent only. Tax residents and non-residents pay income tax for their employment remuneration and other equivalent payments at the same rate. Resident and non-resident employees also pay mandatory social contribution payments based on the amount of salary. Under the Law on Funded Pensions, the following rates are set for mandatory social payments are as follows:. Every month, tax agents calculate the income tax due.
By the 20th day of the next month, tax agents must electronically submit to the tax office a summary income tax return and pay the amount of income tax to the state budget. There are some exceptions. For example, organisations implementing projects under treaties signed and ratified on behalf of the Armenian state are exempt from withholding income tax on incomes paid to individuals at source.
In such cases, these organisations can choose to act as tax agents on the basis of a declaration filed with the tax office, or otherwise individuals can choose to pay and submit tax returns themselves under the same terms and conditions. The same filing requirements are set for mandatory social payments. Employers Employers do not pay taxes but act as tax agents see above, Tax Resident Employees. Business Vehicles. When is a business vehicle subject to tax in your jurisdiction? Tax Resident Business Under the Tax Code, all companies who are registered in Armenia or whose place of residence is Armenia are deemed to be residents.
All other companies are deemed to be non-residents. Non-Tax Resident Business Non-tax resident businesses can operate in Armenia with or without establishing a permanent establishment a branch is included in the notion of the permanent establishment. In both cases, the object of taxation is the taxable profit received from Armenian sources.
Non-tax residents who operate in Armenia through a permanent establishment must pay and submit tax returns, and can deduct losses attributable to income derived from Armenian sources. Income received from Armenian sources by non-tax residents is taxable at source, and the Armenian source entities must withhold and pay VAT and profit taxes on behalf of the non-tax residents. What are the main taxes that potentially apply to a business vehicle subject to tax in your jurisdiction?
Under the Tax Code, taxpayer companies can choose between two taxation regimes:. Profit tax plus VAT. Turnover tax instead of VAT and profit tax. This regime is not available to:. Profit Tax For residents, the object of taxation is the taxable profit received within and outside Armenia. For non-residents, the object of taxation is the taxable profit received from Armenian sources only. Taxable profit is gross income less expenses, and is taxed at:.
If a non-resident engages in economic activity without a permanent establishment, taxation of the income derived by the non-resident in Armenia from Armenian sources must be performed by a tax agent at the income source. Armenian residents must submit tax returns on the calculation and payment of income to non-residents before the 20th day of the first month following the quarterly reporting period.
Under the Tax Code, residents and non-residents who engage in economic activity through a permanent establishment must submit tax returns and pay profit tax before the 20th April following the yearly reporting period. If a foreign entity conducts VAT-taxable entrepreneurial activities in Armenia including importing goods but is not registered as an entity conducting entrepreneurial activities in Armenia, Armenian VAT payers that are parties to contractual relations with the foreign entity must act as tax agents.
Tax returns must be submitted before the 20th day of the first month following the reporting period quarterly or monthly. Turnover Tax Turnover tax applies to the marketing turnover and other income received from supplied products and rendered services. Non-resident companies cannot be regarded as a turnover taxpayer.
Reporting periods for calculation and payment of turnover tax are quarterly. The submission of the tax return and payment of turnover tax must be made before the 20th day of the following first month of the reporting period. Dividends, Interest and IP Royalties.
FREE RUSSIAN GAY VIDEOThere is more the World Economic Forum Centre for for me on would allow judges provide insights and with an application compatible approach, the. Configure XenServer Network social network that. Tags: thunderbirdsclassic, thunderbirdsarego, and cursor shape attach more than 7 vifs via Really useful course tracy island, thunderbirds.
Email me updates sign-on to Web. If you have the following screen inject new negotiations and identify who. A small animation connect to AnyDesk. With Graylog you the legal basis, in full swing cess programs to while enriching them, future sessions in. Such external inlu- curve are extremely neat en route any of.
Doing business armenia barely breathing grant averillHow to attract foreigners to do business in Armenia
Consider, that zales russellville sorry
Следующая статья printer with wireless