Video: From April 21, Taxpayers or Tax Agents Pay a Penalty of 0.04% for Each Day of Delay

The State Revenue Committee of Armenia has issued a statement indicating that starting from April 21, 2020, taxpayers or tax agents will pay a penalty of 0.04% for each day of delay, instead of the previous rate of 0.075%.

Additionally, if the total obligations of the taxpayer do not exceed 1.5 million drams, no enforced collection actions will be taken against them. According to economists, there has been a change in the penalty rate to 0.04%, which means that now a threshold of 1.5 million drams has been set instead of the former 500,000 drams, after which only bank accounts can be put under seizure.

For more details, watch the video.