YEREVAN. – Those outstanding property and land taxes, which Armenia’s taxpayers have accrued until January 1, 2008, will be declared null and void.

During its session on Thursday, the Government approved the draft decision to make changes in several laws, and this draft will be sent for the National assembly’s approval.     

Regional Governance Deputy Minister Vache Terteryan informed that such outstanding taxes have reached close to AMD 43 billion (approx. US$ 110,557,940) and they are irredeemable. But the new outstanding tax amounts are not much.      

And those taxpayers who have accrued outstanding taxes from 2008 to 2010 will be exempted from the penalties and fines, if they pay the principal tax by 2012. 

All taxpayers will benefit from this privilege.