LAW OF THE REPUBLIC OF ARMENIA

of December 28, 2012 No. ZR-236

About the receipts tax

Accepted by National Assembly of the Republic of Armenia on December 19, 2012

Article 1. Subject of regulation of the law

This law governs the relations connected with calculation and the tax discharge from turnover in the Republic of Armenia, the circle of taxpayers, the tax rates of the receipts tax, procedures of payments and payments establishes.

Article 2. Concept of the receipts tax

1. The receipts tax is the tax paid in accordance with the established procedure, the sizes and terms to the government budget for activities of trade organizations, individual entrepreneurs and notaries replacing the value added tax (VAT) and (or) the income tax.

2. For trade organizations the receipts tax replaces the VAT and (or) the income tax. In the receipts tax the settlement size of tax from profit is accepted 40 percent.

3. For individual entrepreneurs and notaries the receipts tax replaces the VAT.

Article 3. Termination of tax benefits

1. For taxpayers from turnover as regards the relations regulated by this law the tax liabilities established by the tax legislation as regards the VAT and tax on profit stop.

Article 4. Taxpayers from turnover

1. In the Republic of Armenia from turnover taxpayers (further – persons), except as specified, specified in part 3 of this Article can be considered as taxpayers the meeting conditions established by part 2 of this Article which are considered as resident of the Republic of Armenia trade organizations, individual entrepreneurs and notaries, including, recently created (received state registration or registered):

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