fintax logo

+374 94 000 446

Tax privileges for repatriates expanded in Armenia

Viewed 2577

22.01.2020
post single img

Changes initiated by the SRC in the Tax Code of the Republic of Armenia (RA Tax Code) provide for tax benefits for repatriates, namely exemption from  customs duties of their imported property upon return to their  homeland.

In addition, a change in the period of permanent stay  abroad was initiated, namely, if earlier, according to the RA Tax  Code, those citizens or natives of Armenia who had not lived in the  country for 5 years were considered repatriates, now it is proposed  to reduce this period to 3 years.

These changes were announced on  January 20 by a lawmaker of the National Assembly of the Republic of  Armenia from the "My Step" faction Sisak Gabrielyan.

The matter concerns personal property, including vehicles. However,  according to him, certain subtleties are in effect here - only one  car can be issued per repatriate, registration of which must be done  6 months before moving to Armenia.

In addition, for citizens of the Republic of Armenia who have been  absent from the country for about a year and a half who have left,  for example, from the country to work, the SRC also initiated certain  benefits. In particular, when importing property into the Republic of  Armenia with a total value not exceeding 5 thousand euros, customs  duties will not be applied (except for a car).

The SRC introduced certain benefits for students who arrived in  Armenia to get an education, after which they decided to stay on a  permanent basis in their historical homeland (due to marriage or  other reasons).  According to Gabrielyan, the latter are also  exempted from paying customs duties when importing their property  into Armenia.

It was noted that the repatriates and citizens of the Republic of  Armenia can use these benefits at a time.

SRC Deputy Chairperson Shushanik Nersisyan emphasized that, in  addition to all the benefits provided, the tax administration process  has also been simplified in terms of the documentation required to be  presented.  <I want to assure you that we are doing everything  possible so that those citizens who want to return to their homeland  do not encounter problems. If we are not deceived, then we make every  effort to help our citizens>, she said.  According to her, earlier  statistics regarding repatriates were not kept, however, since last  year the number of repatriates applying for tax benefits when  importing their property into the territory of the Republic of  Armenia has increased 5-6-fold. "We believe that by the end of the  month the bill will be in the National Assembly of the Republic of  Armenia, and by the end of March or by the beginning of April, these  changes will come into force," the SRC official said.

Services

Recent views