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Doing business in Armenia Type of income

Amount (in %)

Insurance benefits received from insurance and income received from freight


Royalties, interests, lease payments, increase in the value of property and other passive income (with the exception of income received from freight) as well as other income received from other sources in Armenia.


A taxpayer who derives income from a business activity must make advance payments of the income tax during the course of a year. The advance payments must be made quarterly, no later than on the 15th day of the last month of the respective quarter, in the amount of 1/6-th of the actual amount of the income tax for the preceding year. Taxpayers commencing new business activities are not required to make advance payments of income tax until June 15 of the following year. Property tax

Property tax is a direct tax on the property considered a taxable object and owned by persons by property right being paid to the relevant budgets following the procedure and at a stipulated rate, which does not depend on the outcomes of the taxpayers’ economic activity. The property tax shall be paid by the organizations set up in the Republic of Armenia and other countries, international organizations and those created by them outside the Republic of Armenia, citizens of the Republic of Armenia, foreign citizens, as well as those without citizenship who possess property in the Republic of Armenia that is considered a taxable object. Š 2012 Grant Thornton CJSC. All rights reserved. 34