Universal income declaration and comprehensive health insurance systems will be launched. The first beneficiaries of the innovations will be around 100 thousand citizens of Armenia. They must declare their income of 2023 until the first of May, from wages to the amount of rented property.
As of January 1, 2024, the legislative amendment to the RA Tax Code (hereinafter referred to as the "Tax Code") will introduce a new regulation in the taxation of income (increase) of non-resident organizations in connection with the alienation of shares in Armenian organizations. In this review, we will present a brief overview of the current regulation, as well as an analysis, with an emphasis on their potential impact on the Armenian business environment.
According to the current regulations of the RA Tax Code, cash register operations are carried out through the cash register and (or) reporting persons. Moreover, until December 31, 2023, the cash register operations are registered in the cash register book managed on paper or electronically. According to the Law HO-340-N "On Making Additions and Amendments to the Tax Code of the Republic of Armenia" adopted on October 25, 2023 a change was made in the mentioned provisions and it was planned to record the cash register operations exclusively in the cash book managed electronically.