Armenian parliament discusses the bill submitted by the Prosperous Armenia Party MP Mikayel Melkumyan. 

The bill proposes to mitigate the economic consequences of coronavirus and calculate penalties for late tax liabilities for each late day for 0.04%, instead of 0.075%.

Another change concerns the following: according to the current regulations, if a representative of a business entity accumulates a tax liability for AMD 500 thousand, the tax authority has the right to publish a document banning the property of the taxpayer. Now it is proposed to replace AMD 500 thousand with AMD 1 million 500 thousand after April 20, 2020." Moreover, this size will be taken into account when using the ban tool after April 20 of the current year,” the MP said.

According to him, over the past two years, 9,800 entities have been under such a ban, which is nearly 10% of the total numberof economic entities.