YEREVAN, JUNE 10, ARMENPRESS. With the support of the Organization for Economic Co-operation and Development (OECD) Armenia’s State Revenue Committee gathered the world’s leading technological companies around a negotiation table to find solutions for taxing the electronic trade, the SRC said in a statement today.

After a long-lasting negotiations a video conference was held in the State Revenue Committee with the representatives of leading international companies such as Microsoft, Google, Facebook, Booking.com, Netflix, Amazon, Spotify, KPMG, etc.

Armenia today has a unique opportunity to offer a favorable environment to the world leaders of the e-services to self-declare and pay the value added tax to the country’s budget for the services provided to the Armenian consumers. Moreover, the price for the online services provided to the citizens of Armenia already involves the VAT. The introduction of such self-declaration system will bring additional revenues to the state budget which will not lead to change in prices of these services.

“The taxation of online trade is a great challenge around the world. Our country, in the person of the State Revenue Committee, is on the way of finding the best solution. The experience of digitization field will allow the Committee to create a convenient platform for the submission of reports and tax payment”, SRC deputy chair Mikayel Pashayan said. The companies providing online services will be able to register and present the necessary reports within several minutes.

The State Revenue Committee will soon come up with a legislative initiative in order to introduce taxation regulations of online trade services by VAT in accordance with the best international practice.

Editing and Translating by Aneta Harutyunyan