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Armenia’s large business given free hand in VAT since 2017

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Armenia’s large business given free hand in VAT since 2017

YEREVAN. - There is no need to fear that the large business will abuse the liberalization of VAT regime deductions.

Deputy Chairman of the State Revenue Committee (SRC) of Armenia, Vakhtang Mirumyan, told the aforementioned to Armenian News –

In the past, in order to write off the VAT debit, the buyer had to settle accounts with supplier in advance. Since 2015, the requirement on advance payment was removed from companies with turnover of up to 100 million AMD, this number reaching 500 million in 2016 (slightly more than $1 million). Whereas starting from 2017, all economic entities of Armenia can receive goods by invoice, writing off the VAT without yet paying off.

On the other hand, such a regime brings justice and equal conditions for VAT debit and credit, since in the pa...

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