The initiative proposes to define the features of the value added tax (VAT) calculation in case of sales of light passenger cars at a price lower than the purchase price. Also, the features of the gross income calculation are defined for the same light passenger cars. Environmental tax rates calculated for vehicles during import are subject to amend. This was stated by the Deputy Chairman of the RA State Revenue Committee Karen Tamazyan at November 14 NA sitting.
The MPs debated the draft law on Making Amendments and Addenda to the RA Tax Code authored by the Government in the first reading.
The regulations proposed by the draft will come into force from December 1, 2023, and the amendments in environmental tax rates will come into effect from July 1, 2024.
The rapporteur, answering the MP Sergey Bagratyan’s question, underscored. “If the physical person imports his/her car, carries out customs clearance and is not an organization or an individual entrepreneur, that is, there is no commercial purpose, then the proposed 1.2 coefficient is not applicable to them.”
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The member of the NA Standing (Head) Committee on Economic Affairs David Arushanyan presented the endorsement of the Committee. The deputy urged to vote for the initiative. The NA adopted the draft law in the first reading.
National Assembly of the Republic of Armenia