LAW OF THE REPUBLIC OF ARMENIA

of April 14, 1998 No. ZR-207

About establishment of tax benefits in hour of the delivered goods and the rendered services within public procurements (state order), clearing deliveries and interstate agreements

Accepted by National Assembly of the Republic of Armenia on March 18, 1998

Article 1. This Law determines procedure for deferred settlement of the tax shortages formed owing to non-execution or untimely execution by legal entities, the companies which do not have the status of the legal entity and individual entrepreneurs (further - taxpayers) payments for the delivered goods and the rendered services within public procurements (state order), clearing deliveries and interstate agreements (further - public procurements), and releases from the penalty fee added on them.

Article 2. Taxpayers are exempted from the penalty fee added at the time of the introduction of this Law in force for untimely accomplishment of the tax liabilities, in the amount of the amount of the penalty fee added and unpaid on shortages of the value added tax, the excise tax and the income tax (income tax), formed owing to payment delay for the delivered goods and the rendered services within public procurements till December 31, 1997.

Article 3. The repayment period of the shortages of the value added tax, excise tax and income tax (income tax) formed at the time of the introduction of this Law in force owing to payment delay for the delivered goods and the rendered services within public procurements till December 31, 1997 is postponed until the third banking day following behind day of implementation of these payments. If in the specified time of shortage are not settled, then the privilege established by this Law is cancelled.

Article 4. For the purpose of application of articles 2 and 3 of this Law the size of the shortages of the income tax (income tax) formed owing to payment delay for the delivered goods and the rendered services within the public procurements till December 31, 1997 and added on them by penalty fee in the amount of size of shortages of the income tax (income tax) of the taxpayer and added is determined by penalty fee by them in proportion to specific weight of revenue from the specified transactions in revenue amount size from the main activities of the taxpayer in this period.

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