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The Law on Tax Advantages for Self-Employed persons came into a force on 01 January 2017, which constitutes total tax free regime on certain activities in Armenia. The law is enforceable both on physical persons and private entrepreneurs. In the first case the latest will obtain a TAX number, when applying for the Advantages to the tax authorities.
The law has an exemption for VAT and an excise duty which are payable in ordinary course.The tax exemption applies to self-employed persons where the revenue from sales of all types of goods during the previous calendar year (hereinafter referred to as turnover) does not exceed AMD 9.0 million .
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The staff of ILex Law Firm congratulates all clients Christmas and Happy New Year. 2017 will surely be accompanied by health and success, and in the case of small problems is always possible to find appropriate solutions.
We wish you and your family all the best and prosperity in the coming 2017.
Best wishes Ilex law office team.
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The essence of the institute of Re-Domiciliation is that a country's organization is given the opportunity to move to another country, continuing its activities.
In contrast to the incorporation of a new legal entity in another country, transferring its assets and liabilities or liquidation procedures, which of are mostly complicated and time-consuming processes, Re-Domiciliation is a much simplified procedure and investors are able to do so without winding-up their business.
Currently, in many countries, this institution works successfully and provides opportunities to attract foreign investment, become favorable business centers.
The monitoring of a number of countries (including Ireland, Malta and Cyprus) shows that the introduction of the Re-Domiciliation positively affects the development of the country's economy and corporate sector. The same study also confirmed that the introduction of Re-Domiciliation institute in the Republic of Armenia is also possible.
In order to introduce the mentioned institute, there have been amendments to the Civil Code of the Republic of Armenia and the Law of the Republic of Armenia "On State Registration of Legal Entities, State Registration of Separated Divisions of Legal Entities, Institutions and Individual Entrepreneurs".
An Addendum to the Law "On State Registration of Legal Entities, State Registration of Separated Divisions of Legal Entities, Institutions and Individual Entrepreneurs". has been adopted on 17.11.2016, effective from 30.11.2016 .
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