Yesterday, on December 21st, the National Assembly adopted amendments to the Tax Code. Among various other issues, the amendments delay the application of the widely discussed 5% income tax on dividends paid to Armenian citizens – the tax will only be applied to dividends from the profits generated from January 1st 2018 and onwards. Under the current wording dividends paid in 2018 for the previous years’ profits are also taxable. Similarly, the application of the 10% income tax on dividends paid to foreigners is retroactively delayed by 1 year. The amendments are yet to be signed into force by the President.
Apr 10 2025