On January 18, 2022, the RA Law “On Non-Cash Payments” was adopted, which comes into force on July 1, 2022 and applies to legal relations that arose after the law came into force.

The law regulates transactions for the alienation of goods, the alienation of property, the use of goods, the use of property, the performance of work and the provision of services, wages, scholarships, pensions, allowances, loans, entertainment expenses, cashless payments during business trips, as well as non-cash transactions, other related relations.
The law applies to individuals located in the territory of the Republic of Armenia, organizations operating in the territory of the Republic of Armenia, foreign organizations, subdivisions of foreign organizations operating in the territory of the Republic of Armenia, individual entrepreneurs, notaries, lawyers.
The law applies to transactions made (in writing and orally) on the territory of the Republic of Armenia, as well as to transactions concluded (actually paid) outside the territory of the Republic of Armenia (actually paid).

From July 1, 2022 for the alienation of goods exceeding 300,000 AMD, alienation of property, use of goods, use of property, performance of works and services, payment of passive income defined by the Tax Code of the Republic of Armenia, provision and receipt of loans, if one of them is a natural person Payment and payment shall be made in non-cash form:
Payment and receipt of any transaction between foreign organizations and sole proprietors, notaries, lawyers, organizations, individuals of the Republic of Armenia shall be made non-cash, regardless of the payment procedure, if the payment or receipt of payment is made in the territory of the Republic of Armenia.
In case of non-compliance with the restrictions on cash payment or acceptance in accordance with the Law of the Republic of Armenia on Non-Cash Transactions, the taxpayer shall be fined five percent of the total amount of cash disbursement (violation amounts), but not less than 500 thousand AMD and not more than two million drams.