LAW OF THE REPUBLIC OF ARMENIA

of December 30, 2016 No. ZR-258

About modification and amendments in the Law of the Republic of Armenia "About funded pensions"

Accepted by National Assembly of the Republic of Armenia on December 16, 2016

Article 1. "About funded pensions" (further - the Law) to state Item 37 of part 1 of article 2 of the Law of the Republic of Armenia of December 22, 2010 to ZR-244-N in the following edition:

"37) the obligation on social payment - the amount of the social payment established by this Law, which is subject to transfer by hired employee, being the participant (the tax agent having the obligation on calculation and transfer for it social payments) into the account bridge and the penalty estimated in its relation. The amount of social payment established by this Law, which is subject to transfer by the individual entrepreneur, notary and self-employed person who is the participant for them into the account bridge;".

Article 2. In article 8 of the Law:

1) regarding 1 word "the state authorized body of the Republic of Armenia in the financial sphere" shall be replaced with words "tax authority";

To add 2) in the first paragraph of part 2 after the word "obligations" with the words "are considered on the date of the actual representation of calculation", and in the third paragraph of the word "the additional obligation is estimated" shall be replaced with words "additional obligations and deductions are considered".

Article 3. In article 71 of the Law:

The first and second paragraph of part 1 to state 1) in the following edition:

"Hired employees (the tax agents having the obligation on calculation and transfer for them social payments) having the obligation on making of social payment under this Law bear responsibility for non-execution or making with delay of social payments. In case of non-execution of social payment for each day of delay the hired employee (the tax agent having the obligation on calculation and transfer for it social payments) pays penalty in the amount of 0,15 of percent of the amount of timely unpaid social payment.";

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