Armenia changed the turnover tax regime

Armenia changed the turnover tax regime

On June 21st, the National Assembly approved amendments to the turnover tax regime. Based on these amendments, starting from October 1st, the turnover tax for trading and manufacturing activities will be lowered from 3.5% to 1%.

Also economic entities whose business is registered as family business and whose annual turnover doesn’t exceed AMD 12 million will be exempted from taxes.

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