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At October 5 sitting of the National Assembly, the draft law on Making Amendments and Addenda to the RA Tax Code was debated by presentation of the Chairman of the RA Revenue Committee Rustam Badasyan.
The main goal of the draft law is the specification of the definition ‘electronic service’ notion, the definition of the decision rules of the electronic service rendering venue, as well as the forecast of the VAT counting and the paying regulations concerning the electronic services being rendered to the physical entity not being considered individual entrepreneur or notary by non-resident organization.
It is proposed to set the financial quarter as financial period of the electronic services being rendered to the physical entity not being considered individual entrepreneur or notary by non-resident organization. The moment of the rendering service is defined payment for that service, including the last day of the financial quarter plus the day of the partial payment. It is designed to submit the VAT counting including the 20th day following quarter. A simplified procedure of the counting and the VAT payment will be set by the Government, which will relate to the non-resident taxpayers rendering electronic services on the RA territory.
In his co-report the deputy Hovik Aghazaryan presented the endorsement of the NA Standing Committee on Economic Affairs.
