LAW OF THE REPUBLIC OF ARMENIA

of October 22, 2020 No. ZR-462

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

Accepted by National Assembly of the Republic of Armenia on October 21, 2020

Article 1. To add part 1 of article 108 of the Tax Code of the Republic of Armenia of October 4, 2016 (further - the Code) with Items 23 and 24 of the following content:

"23) the assets which are registered in banks and credit institutions, created concerning physical person, the dead who became the disabled person or the missing person as a result of the military operations performed in the period of warlike situation, his spouse (spouses), the child jointly living or jointly the living parent recognized hopeless according to the procedure jointly approved by authorized body of the Government and the Central bank of the Republic of Armenia subtracted from gross income for the purpose of the taxation (including the credit amounts and other amounts, percent, penalty fee and (or) penalties added to or after recognition by their hopeless), in case of their forgiveness, irrespective of provisions of Item 18 of this part;

24) the obligations forgiven by the banks or credit institutions which are considered as the resident organizations, to the individual entrepreneur or the notary, the dead who became the disabled person or the missing person as a result of the military operations performed in the period of warlike situation, to his spouse (spouse), to the child jointly living or jointly the living parent who is considered as the individual entrepreneur or the notary (including credit amounts and other amounts, the amounts of the percent added on them, penalty fee and (or) penalties).".

Article 2. To add article 124 of the Code with part 4 following of content:

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