Weekly Client Alert # 24

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GOVERNMENT DECREES

 

Ban on Goods of Turkish Origin

According to the RA Government Decision No. 1708-Ն of October 20, 2020, the import of goods of Turkish origin to Armenia will be banned for a period of 6 months starting from December 31, 2020.

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TAX LEGISLATIOn

 

Tax Benefits

Import of certain products being donated, within the term of the military situation, to the Ministry of Defense, Ministry of Extreme Situations, Ministry of Transport and Infrastructures, Ministry of High-Tech Industry and (or) Ministry of Health shall be exempt from value-added tax, excise tax and (or) ecological tax.

Forgiveness of credit obligations of natural persons, sole entrepreneurs and notaries deceased, disabled or gone missing during military actions taken place in the course of the military situation or their family members by banks and credit organizations shall not raise corporate tax obligations for those banks and credit organizations.

The draft laws on the Establishment of Tax Benefits for the Term of Military Situation and Making Additions to the Tax Code of the Republic of Armenia were adopted by the National Assembly on October 21, 2020.

Find more here and here