On March 27th, President Serzh Sargsyan signed a number of laws adopted by the National Assembly including a draft on making amendments and additions in the RA Law on “Value Added Tax” and on making changes in the RA Law regarding changes and additions to the RA Law on “Value Added Tax”.
Today, it was published in the Official Bulletin and it will begin enforcement tomorrow.
Republican MPs including Khachatur Qoqobelyan presented this package to the Parliament.
According to the drafted bills, these changed are in response to the Eurasian Economic Union’s (hereinafter EEC) elimination of the requirement of added value taxes imposed on cars imported by individuals in the Republic of Armenia.
Authors of the bill (including several members of parliament and government) argued that the EEC is a single common economic sphere, which provides for the free movement of goods and capital resources. This is also a principle found in the legal documents of the EEC.
For the RA this levy value added tax on imported vehicles from individuals is contrary to the principles of the EEC and VAT was already being imposed on individuals from the RA.
