Administrative liability will be applied for incorrect information provided by Armenia’s taxpayers. This was announced by Artur Manukyan, Deputy Chairman of the State Revenue Committee, during the debates on the respective bill at Friday’s meeting of the Standing Committee on Economic Affairs of the National Assembly of Armenia.

Accordingly, the Armenia government proposes, in particular, administrative liability for incorrect or unreliable filling of information tables, which are not directly related to the calculation of taxes, but are of essential importance for the analytical work carried out by the tax authority.

As a result of these changes, Armenia’s taxpayers are expected to ensure complete and reliable submission of relevant information, as well as clarify the scope of administrative offenses subject to inspection by the country’s customs and tax authorities.

The first time the aforesaid information is filled incorrectly, there will be a warning. If the mistake is not corrected within one month, there will be a fine of 10 thousand drams. And if the second time the mistake is not corrected within 30 days, the fine will be 50 thousand drams.

Also, it is proposed to remove non-functional provisions from the Tax Code of Armenia.

This bill was approved by the aforesaid standing committee of the parliament.