- The government of Armenia has decided to simplify VAT refund procedures
- The decision was announced on June 6, 2019
- David Ananyan, chairman of the State Revenue Committee, stated that the new process allows taxpayers to receive VAT refunds more easily
- Taxpayers with transactions up to 20 million drams at a zero VAT rate qualify for the simplified refund process
- The new system removes the requirement to submit all tax reports and pay all taxes before receiving a VAT refund
- Only a VAT calculation needs to be submitted under the new rules
- There is a proposal under consideration to increase the transaction ceiling for simplified refunds from 20 million drams to 60 million drams
- In 2018, the average time required for a VAT refund was 1.4 days
- The exchange rate mentioned is 1 USD to 479.79 drams
Source: arka.am
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
