Wednesday, 13 May 2020
Software implementation for calculating tax penalties for failure to pay by due date has been completed
The SRC announces that according to law No HO-220-N 22.04.2020 on making amendment and supplement to the Tax Code of Armenia, and law No HO-221-N of 22.04.2020 on making amendment to the law on funded pensions, taxpayers or tax agents pay penalty at 0.04% for each overdue day instead of 0.075% starting from April 21, 2020.
Relevant changes have been made to personal account cards and other related systems in order to calculate penalties at the new rate.
The SRC announces that the software implementation has been completed on May 12, 2020 and recalculation has been carried out in terms of penalties starting from 21.04.2020 in taxpayers’ personal account cards.
