Tax privileges for repatriates expanded in Armenia
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.