Weekly Client Alert # 9

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BILLS IN PARLIAMENT

 

During the State of Emergency, a Person's Freedom May be Restricted

In order to prevent the spread of a dangerous infectious disease, a person's right to personal liberty may be restricted by a written order and, if this is not possible, by an oral order. The bill was fully adopted in the second reading.

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Work-Related Duties Can Be Performed Remotely

The Labor Code provides for the possibility of temporary performance of work-related duties remotely. The bill was fully adopted in the second reading.

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The Health and Labor Inspectorate Shall Investigate Violations of Labor Legislation

Under the emergency circumstances, the Health and Labor Inspectorate shall exercise state control over labor legislation, investigate cases of administrative offences, and impose administrative penalties. The bill was fully adopted in a second reading.

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GOVERNMENT DECREES

 

Amendments on the Eighth Package of Measures to Neutralize the Economic Consequences of Coronavirus

As part of the eighth package of measures to neutralize the economic consequences of coronavirus, the Government of Armenia provides one-time assistance to employees and individual entrepreneurs in affected areas.

As a result of the amendments made to the eighth package, from now on, the beneficiaries of assistance will also be employees working under civil service contracts in the affected areas.

At the same time, the package of amendments has increased the number of affected areas in which operating employees and individual entrepreneurs can receive support. This list includes areas of clothing and furniture production, production of shoes and other leather products, making jewelry made of precious and non-precious metals and stones, car maintenance and repair, air transport and cinema activities, activities in the field of photography, car rental and lease of other items, educational activities in the field of culture, music, sports, dance, organizing creative, artistic and ceremonial performances, washing, cleaning և dry cleaning services, polygraphic activity (printing service). Moreover, within the framework of the package, the sphere of organizing computer games and internet clubs was removed from the areas not subject to assistance.

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Amendments on the Second Package of Measures to Neutralize the Economic Consequences of Coronavirus

Within the framework of the second event to neutralize the economic consequences of the coronavirus, the Government of Armenia provided a number of amendments to the terms of the loan, terms of repayment, a grace period of the principal amount of the loan and to the conditions of the loan/leasing provision within the framework of assistance provided to individual businesses engaged in agriculture.

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CHANGES IN THE FINANCIAL SPHERE

 

Refinance Rate Cut

The Central Bank has cut the refinancing rate by 0.25 percentage point, setting it at 5.0%. This step is part of the policy of the Central Bank being implemented during the current crisis and aimed at adding to the monetary stimulus not only with short but also middle-term effects. The relevant decision was adopted by the Board of the Central Bank at the meeting held on April 28.

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TAX LEGISLATION

 

The Tax Authority May Obtain Complete Information on the Owners of the Securities

The Government approved a draft law on enabling the tax authorities to have full access to the information on economic entities’ securities accounts, shares and owners of securities.

The draft amendments to the law have not been included in the National Assembly agenda yet.

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Online or Itinerant Sales and Provision of Itinerant Services Using Cash Register In RA

It is proposed to record cash registers not in a specific place of sale of goods and services, but only in the name of the organization, allowing them to be used at any address:

In this case, the use of cash registers becomes mandatory also when selling goods from movable and vehicle trading points, or through online commerce.

The draft amendments to the law have not been included in the National Assembly agenda yet.

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