There is applied the most liberal method of returning VAT in Armenia than in the rest of the EEC territory, said the head of the consulting company Paradigma Armenia Aaron Chilingaryan, reports the NEWS.am.

According to him, the Armenian companies and entities engaged in trade with other countries in the EEC need to remember how they can get the VAT in their country. They will need a notification about the payments of VAT by their contractors.

" At the same time , the representatives of the Eurasian Economic Commission , in particular, the Minister Timur Suleymenov, noted during the meeting with the Armenian businessmen that the business entities have the right to include in the agreements that their partners are obliged to pay penalties, if they do not receive the notifications on time," said Chilingaryan.

He drew attention to the fact that Armenia 's tax authorities do not charge on the first day but on the 181st day of the transaction , (in case the business entity hasn’t received a notification from the other EEC countries and did not pay the VAT within 180 days)  "Thus , our approach is more liberal ," said Aaron Chilingaryan.