LAW OF THE REPUBLIC OF ARMENIA

of June 30, 2020 No. ZR-332

About modification and amendments in the Tax code of the Republic of Armenia

Accepted by National Assembly of the Republic of Armenia on June 25, 2020

Article 1. In article 228 of the Tax Code of the Republic of Armenia of October 4, 2016 (further - the Code):

Part 1 to state 1) in the following edition:

"1. On the real estate cadastral costs of the parcels of land (except as specified, established by part 2 of this Article) and their improvements, brought closer to market value, estimated according to the procedure, established by the law establishing procedure for the cadastral assessment which is brought closer to market value of the real estate for the purpose of taxation on the real estate are considered as taxation basis.";

2) regarding 4 words "procedures for cadastral assessment, the installed applications 1 and 2, being the Code component" shall be replaced with words "the corresponding procedures for cadastral assessment established by parts 1 and 2 of this Article";

3) part 7 to recognize invalid.

Article 2. To state article 229 of the Code in the following edition:

"Article 229. Rates of the real estate tax

1. The real estate tax is calculated at the following annual rates:

1) for the real estate which is the earth of agricultural purpose - 15 percent;

2) for the real estate which is the earth of nonagricultural appointment without improvements (including the fencing improved only):

and. for the lands provided for the housing estate from lands of settlements - percent 0,6;

. for the lands provided for public building from lands of settlements - one percent;

century for the lands which are not specified in subitems "an" and "b" of this Item from lands of settlements - one percent;

for lands of industrial, subsurface user and other production function - percent 0,25;

for objects of power, communication, transport, utility infrastructures, and also water lands - percent 0,5;

e. for other lands of nonagricultural appointment - one percent;

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