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Armenia
Overview
Last reviewed - 17 July 2024Armenia is located between Asia and Europe and occupies a land area of 29,800 square kilometres, bordered by Turkey to the west, Georgia to the north, Azerbaijan to the east, and Iran to the south.
Armenia declared independence on 21 September 1991, following the dissolution of the Soviet Union. Armenia is made up of 11 provinces, with Yerevan as the capital, and has a presidential republic form of government. The official language is Armenian, although Russian is also widely used. The currency of Armenia is the dram (AMD).
Major industry sectors in Armenia are mining, information technology, construction, and electricity. The government has made improvements in tax and customs administration in recent years, and Armenia joined the World Trade Organization (WTO) in January 2003. Its gross domestic product (GDP) was 13.9 billion United States dollars (USD) in 2021.
PwC Armenia provides quality products and services while responding to the complex business issues companies face in the marketplace. Effective tax planning is vital for the growth and development of any organisation. In Armenia, where the tax and legal system is complex and subject to constant revision, professional advice is even more of a necessity to achieve success. PwC Armenia advises international companies based upon Armenian tax legislation and its interrelationship with national and international laws and treaties.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
18 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
20 April |
| CIT final payment due date |
20 April |
| CIT estimated payment due dates |
20th day of last month of each quarter. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
20 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
For monthly income tax returns: 20th day of the month following the reporting period. For annual income tax returns: 20 April |
| PIT final payment due date |
For monthly income tax returns: 20th day of the month following the reporting period. For annual income tax returns: 20 April |
| PIT estimated payment due dates |
20th day of the month following the month when the income was received. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
20 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: NA; Non-resident: 5 / 10 / 10 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
10 or 20 (depending on the type of property and whether sold to a tax agent or individual) |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
Armenia contacts
Armenia contacts
Armenia News
Senior Manager, Tax and Legal Services Leader for Armenia, PwC Armenia
+374 10 512 151