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Doing business in Armenia

Property tax rates

Property tax for motor vehicles is calculated at the following annual rates:

• Motor cars with up to 10 passenger seats, if tax base is: − from 1 to 120 horsepower - 200 AMD per horsepower; − from 121 to 250 horsepower - 300 AMD per horsepower and additional 1000 AMD for each horsepower above 150 horsepower; − 251 horsepower and more - 500 AMD per horsepower and additional 1000 AMD for each horsepower above 150 horsepower. • Motor cars and trucks with 10 and more passenger seats, if tax base is: − from 1 to 200 horsepower - 100 AMD per horsepower; − 201 and more horsepower - 200 AMD per horsepower.

• The annual amount of property tax on motorcycles is calculated at the rate of 40 AMD for each horsepower of tax base.

• The annual rate of property tax on watercraft, snowmobiles and four-wheelers is calculated at 150 AMD for each horsepower of tax base.

• The property tax on motor vehicles used up to three years is calculated at 100%.

• The amount of property tax on motor vehicles used for more than three years is reduced for each year following the third year by 10% but no more than 50% of tax amount. The time in use is calculated from the date when that motor vehicle was produced. Property tax for constructions is calculated at the following annual rates: © 2012 Grant Thornton CJSC. All rights reserved. 35

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