The RA Tax Code, which came into force on January 1, 2018, improved the tax administration for the benefit of the business environment by providing more favorable conditions for VAT payers. Tigran Kirakosyan, head of the State Revenue Committee's Inspection Department, told journalists today.

According to him, according to Article 74 of the Tax Code, if the VAT payer has a recoverable amount at the end of each reporting semester, on the basis of a written application, in the manner prescribed by Section 17 of the Code, that amount is credited to the unified account.

Tigran Kirakosyan said that as of March 21, the SRC has already received 34 applications for the sum of money to be deposited into the uniform account with the requested amount of 8 billion 6 million 538 thousand AMD. 464 million 261 thousand drams have been substantiated with 9 completed studies, which was included in the uniform account and 75 million 196 thousand drams were not justified. It was also mentioned that another 25 applications were being examined.

"This is a new reality in tax legislation. Until 2018 VAT reimbursable, that is, debit amounts could be directed only to the further obligations of the taxpayer in respect of VAT and, in case of VAT zero rate taxation (export) transactions based on the application of the economic entity, could be offset or returned," said the head of the department.

According to him, during 2017, 59 billion 950 million drams were returned to the exporters, which exceeded the index of 2016 by 11 billion 757 million or 24.3 %.

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