LAW OF THE REPUBLIC OF ARMENIA

of March 23, 2020 No. ZR-138

About entering of amendments into the Tax code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on March 6, 2020

Article 1. Article 159 of the Tax Code of the Republic of Armenia of October 4, 2016 (further - the Code) to add with part 3.1 following of content:

"3.1. The tuition fee of hired employee, studying full-time (student) in magistracy, postgraduate study or internship of the higher educational institutions accredited in the Republic of Armenia on the specialties approved by the Government is compensated upon termination of academic year according to the procedure, stipulated in Clause 160.1 of this Code.".

Article 2. Add the code with Article 160.1 of the following content:

"Article 160.1. Return of the amount of the tuition fee paid by the physical person which is hired employee for the purpose of compensation of tuition fee from paid amounts of the income tax

1. The income tax calculated (including by means of the tax agent) in the procedure established by the Code as regards the salary and the payments of the physical persons which are hired employees equated to it returns for the purpose of compensation of tuition fee in the amount of the income tax amount, calculated as regards the salary and equated to it payments of physical person within one year, but no more amount paid for training of studying (student) in magistracy, postgraduate study and internship of the higher educational institutions accredited in the Republic of Armenia on the specialties approved by the Government.

2. Physical resident person, having the right at the same time to use the preferences established by this article and article 160 of the Code during the same accounting period of calculation and payment of the income tax can use only one of them.

3. Compensation right provided by this Law:

1) citizens of the Republic of Armenia can use;

2) the studying physical person (student) being hired employee can use for acquisition only of one specialty.

4. Items 2, 3 parts 3 and part 5 of article 160 of the Code are applicable to this Article.

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