Who Will Pay What to the Soldiers' Insurance Fund: The Rates Are Revealed

The National Assembly of Armenia is discussing a draft law to amend the 'Law on Compensation for Damage to the Life or Health of Soldiers during the Defense of the Republic of Armenia', which proposes to increase the rates of payments made to the 'Soldiers' Insurance Fund'.

According to Armenpress, the draft law was presented in an extraordinary session of the parliament by the Minister of Justice Rustam Badasyan.

“Based on all the calculations we have conducted, we have recorded that the funds in the compensation fund will not be sufficient to provide for the compensation of all our compatriots over time. Therefore, the rates of the collected state duty have changed, and a semi-progressive system has been adopted. Specifically, a certain fixed amount corresponding to the income level will now be paid to the compensation fund,” said Badasyan.

If the draft law is adopted, individuals will pay the state duty at the following rates:

• For a calculation base of up to 100,000 AMD: 1,500 AMD
• For a calculation base of 100,001 to 200,000 AMD: 3,000 AMD
• For a calculation base of 200,001 to 500,000 AMD: 5,500 AMD
• For a calculation base of 500,001 to 1,000,000 AMD: 8,500 AMD
• For a calculation base of 1,000,001 AMD and above: 15,000 AMD

Individual entrepreneurs and notaries will pay the state duty at the following rates:

• For a calculation base of up to 1,200,000 AMD: 18,000 AMD
• For a calculation base of 1,200,001 to 2,400,000 AMD: 36,000 AMD
• For a calculation base of 2,400,001 to 6,000,000 AMD: 66,000 AMD
• For a calculation base of 6,000,001 to 12,000,000 AMD: 102,000 AMD
• For a calculation base of 12,000,001 AMD and above: 180,000 AMD