The State Revenue Committee Recalculates Penalties for Late Tax Payments

The State Revenue Committee announces that, in accordance with the law on amendments to the Tax Code of the Republic of Armenia (Law No. HO-220-N dated April 22, 2020) and the law on amendments to the Law on Cumulative Pension Savings (Law No. HO-221-N dated April 22, 2020), taxpayers or tax agents will pay a penalty of 0.04% for each day of delay starting from April 21, 2020, instead of the previous 0.075%. This also applies to cases where the calculation of penalties began before the law came into effect.

To implement the recalculation of penalties based on the new rate, changes have been made to personal account cards and related systems. The State Revenue Committee reports that the software was completed on May 12, 2020, and recalculations have been made for penalties starting from April 21, 2020, in the personal account cards of taxpayers.