LAW OF THE REPUBLIC OF ARMENIA

of December 8, 2012 No. ZR-207

About modification and amendments in the Law of the Republic of Armenia "About funded pensions"

Accepted by National Assembly of the Republic of Armenia on November 12, 2012

Article 1. Regarding 1 article 2 of the Law of the Republic of Armenia "About funded pensions" of December 22, 2010 ZR-244-N (further – the Law):

1) Item 2 after the word of "Law" to add with words ", except for the individual entrepreneurs paying patent payment, who are engaged in the types of activity included in lists of Appendix 1 and Appendix 2 to the Law of the Republic of Armenia "About patent payments";

Item 5 to state 2) in the following edition:

"5) the basic income – the salary and other payments equated to it, the income which is subject to obtaining from business and notarial activity including from the types of activity assessed by the fixed payments established by the Law of the Republic of Armenia "About fixed payments" and included in the list of Appendix 7 to the Law of the Republic of Armenia "About patent payments" (the list of the salary and other payments equated to it establishes the Government of the Republic of Armenia)";

To add 3) with Item 5.1 of the following content:

"5. 1) the contractual income – income gained from the employer for execution of works (provision of services) according to civil agreements (except for the income paid to the entrepreneur and the notary);".

Item 7 to state 4) in the following edition:

"7) self-employed person – the physical person which is not the hired employee gaining income from any not prohibited by the law of activities gaining contractual income, the individual entrepreneur and the notary (including the producer of agricultural products gaining the income from realization of agricultural products paying patent payment, which is engaged in the types of activity included in the list of Appendix 1 to the Law of the Republic of Armenia "About patent payments" the gaining income based on civil agreements), and also the individual entrepreneur paying patent payment who is engaged in the types of activity included in lists of Appendix 1 and Appendix 2 to the Law of the Republic of Armenia "About patent payments";

Words of Item 12 "to the managing director of fund or depositary" shall be replaced with words 5) "to the managing director of fund, depositary, and also person managing guarantee fund", and shall be replaced with words the words "managing director of fund or depositary" "the managing director of fund, depositary, and also person managing guarantee fund";

Item 31 to state 6) in the following edition:

"31) registration plate of public service – the registration plate established by the Law of the Republic of Armenia "About registration plate of public services"";

To add 7) with Items 33, 34 and 35 following contents:

"33) the tax agent – according to the Law of the Republic of Armenia "About taxes";

34) hired employee – person which is in employment relationships with the employer (including with the employer exempted from obligations of the tax agent) in the procedure established by the law, including person which is on public service (except for military personnel and persons equated to them);

35) the employer – the legal entity registered in the state register of the Republic of Armenia, organization of the foreign legal entity, branch or representation of the foreign legal entity, the individual entrepreneur, organization, local government body, and also the notary which based on civil labor or on performance of works (provision of services) of agreements, or in the procedure established by the law actually uses work (services) of citizens, paying them the income.".

Article 2. Regarding 1 article 5 of the Law:

1) to exclude the words "and persons which are on public service, except for the military personnel and persons equated to them" from the Item "and";

To add 2) with the new paragraph of the following content:

"At the same time, specified in this part of the face shall make accumulative fees also from the contractual income in the amount of the rate established by this Law.".

Article 3. In article 6 of the Law:

1) to exclude the words "and persons which are on public service, except for the military personnel and persons equated to them" from the subitem "an" of Item 1 of part 1;

2) in part 3:

and. shall be replaced with words the words "Person Who Voluntarily Joined Obligatory Accumulative Component Shall Provide the Above-stated Confirmation to the Employer (Tax Agent) Who based on It Will Perform Actions, the Stipulated in Clause 8 These Laws." "The holder of the register of participants notifies tax authority, and tax authority in the procedure established by the Government of the Republic of Armenia on the participants established by this part without delay notifies the employer.";

. exclude the second paragraph.

Article 4. To state article 7 of the Law in the following edition:

"Article 7. Rates of compulsory accumulative contribution

1. Accumulative fees for the participants specified regarding 1 article 5 of this Law are made at the rate of 10% of the basic income as follows:

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