LAW OF THE REPUBLIC OF ARMENIA

of July 27, 2014 No. ZR-133

About entering of amendment into the Law of the Republic of Armenia "About the income tax"

Accepted by National Assembly of the Republic of Armenia on June 21, 2014

Article 1. "About the income tax" to add part 4 of article 10 of the Law of the Republic of Armenia of ZR-246 of December 22, 2010 with the new paragraph of the following content:

"Regardless of provisions of this part, in case of exceeding within the current year of total amount of income of the physical person who is not the individual entrepreneur and (or) the notary, 58.35 million dram gained from real estate lease from the exceeding part by the taxpayer calculates the annual income tax at the rate of 10 percent, disregarding the tax amounts established by this Law of reduction and calculated by means of the tax agent and withheld, and in case of receipt of the income from persons who are not tax agents, disregarding established by this Law of reduction and tax amount, independently calculated from income gained from renting of the real estate by physical person.".

Article 2. This Law becomes effective since January 1, 2015.

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