The overpayment as of 1 January, 2018 and the amount different from the overpayment will be registered in the separate sub-accounts of the state budget of the Republic of Armenia maintained by the Treasury until 1 January, 2018.

The balance of the overpayment, different from the overpayment, will be returned to the joint account of the organizations, individual entrepreneurs.

The Government made a decision on this at the 20 May sitting.

“This is the last step we must take to pay off the Government’s debts. In fact, we are zeroing the Government’s debts to business. Of course, not counting the one-month cycle, which according to the legislation, the value added tax excise tax must be returned within a month,” Nikol Pashinyan said.

SRC Chairman Eduard Hovhannisyan mentioned that there will be economic entities that will not even know that they have made overpayments; they are going to publish the list of those economic entities after the decision enters into force.

“We advise our businesses to check their accounts in the coming days, because there is a high probability that money will appear on their accounts, which they did not expect,” Nikol Pashinyan concluded.

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