YEREVAN. – In the 2018 Tax Code, the Armenian authorities wish to more strictly oversee major business deals. 

Nerses Nersisyan, Head of Tax & Legal department at KPMG Armenia, told the aforesaid to reporters, at a seminar on transfer pricing—the rules and methods for pricing transactions between enterprises under common ownership or control—in the country. 

According to the 2018 Tax Code of Armenia, even connected companies shall not buy and sell goods and services “as friends,” since this causes a drop in state taxes.

The new law will apply to overseen business deals that start from 200 million drams (about US$415 thousand).