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Tirayr Muradyan

Armenia Proposes Tax Exemption for Overseas Income

Armenia’s tax agency is proposing changes to the law that will allow citizens to be exempted from paying tax on the first US$3,000 worth of annual income earned abroad.

According to current Armenian law, citizens going abroad to work, in addition to paying income tax in the given country, must also pay income tax in Armenia.

For example, an Armenian working in the Russian Federation, having paid 13% income tax in that country, must pay 8% income tax in Armenia (the difference between the income tax established by Armenian legislation) upon returning.

The amendments proposed by the State Revenue Committee will enter into force one day after they are adopted by the National Assembly. The regulation will also apply to obligations arising after 2020. In other words, citizens who have received notices to pay taxes will be released from those obligations.

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