LAW OF THE REPUBLIC OF ARMENIA

of December 27, 2011 No. ZR-334

About modification and amendments in the Law of the Republic of Armenia "About the value added tax"

Accepted by National Assembly of the Republic of Armenia on December 6, 2011

Article 1. In article 3 of the Law of the Republic of Armenia ZR-118 of May 14, 1997 "About the value added tax" (further - the Law):

To remove 1) from part 4 words "and in case of sales of goods on commission basis, it agrees to the procedure established by the legislation of the Republic of Armenia, total cost of the sold goods (including the VAT)",

Words of the third paragraph of the Item "z" of part 5 "in sense of this Item" shall be replaced with words 2) "in sense of application of this Item".

Article 2. Article 6.1 to state in the following edition:

Article 6.1. Payment due date in the government budget of the VAT amounts calculated by customs authorities as regards goods under product codes Commodity Nomenclatures of Foreign Economic Activity 841920000, of 841990150, 8422 (except for codes 842211000 and 842290100), 8426, 8429, 8430, 8435, 8441, 84431, 8452 (except for codes 845210 and 845290000), 8453, of 8475, of 8478, of 8479, by 85023100 or 870410 persons who are considered as taxpayers on value added it is prolonged, except as specified, established by this Article:

1) for one year from the date of the declaration if customs value of the imported goods under the specified codes is less than 70 million dram,

2) for two years from the date of the declaration if customs value of the imported goods under the specified codes makes 70 million dram more,

3) for three years from the date of the declaration, if if customs value of the imported goods under the specified codes exceeds 300 million dram.

The payment due date is prolonged by payers of the VAT in the government budget of the VAT amounts calculated by customs authorities as regards goods under product codes Commodity Nomenclatures of Foreign Economic Activity 250510, of 250900, of 251820, of 2836, of 3901, of 3902, of 3903, of 3904, of 3905, 3906 for one year from the date of the declaration.

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