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It is proposed with the amendments to the RA Tax Code and to the law on Approval of List of Goods Imported by Organization and Private Entrepreneurs, That Have '0' Customs Duty Rate and are Not Subject to Excise Taxation and for Which Value Added Tax Shall Not Be Calculated and Collected by Customs Authorities to take excise tax from the electronic tobacco from January 1, 2023 with 1 ml 55 AMD rate, as well as the stamp with a stamp label, the RA Deputy Minister of Finance Arman Poghosyan said.

As the Deputy Minister assured, the Commodity Nomenclature of Foreign Economic Activity codes of some kinds of goods will also be adjusted, the rates of the cider being classified and the excise tax of other dinks will be equalized.

After the first reading the Government presented proposals of editorial character.

To define the taxation base with the income tax by the amendment to the Tax Code authored by the NA deputies Gevorg Papoyan and Alkhas Ghazaryan, the incomes receiving from the alienation of the physical person being an individual entrepreneur and notary of the individual residential house, constructions or other areas (being without non-residential areas of the common share property) by the physical entity considered as a builder of the individual residential house will be considered decreasing income, regardless of the fact when the individual residential house, constructions or other areas were alienated.

As the Chair of the NA Standing Committee on Financial-Credit and Budgetary Affairs Gevorg Papoyan assured, the purpose of the proposing amendment is to exempt the individual entrepreneur and not considered notary physical persons considering builder of the individual residential house builder from the unsubstantiated additional costs.

According to the Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan, our fellow citizens will be exempted from the tax burden during the alienation of the apartments with the legislative initiative.

The Deputy Minister Arman Poghosyan noted that the conclusion of the Government is positive.

The Committee members were for the adoption of the draft law.

After entering into force the law, it will be spread on the relations arisen from January 1, 2022.

It was noted that after the first reading the Government presented amendments of editorial character, which were accepted.

In case of alienation of the residential or other areas, plots of lands with the amendments in the Tax and Civil Codes the taxation base with the VAT is defined not less than with the amount of 80% of the taxation base with the tax of the real estate for them.

According to the Deputy Minister of Finance, it is proposed not to apply the given regulation by the bank or loan organization in case of the deals of alienation of such property units, towards which the right to the mortgage of the bank or loan organization was registered before the law on Establishing the Order of the Approximated Cadastre Assessment to the Real Estate Market Price entering into force, and that property has been transferred to the bank or loan organization with the right of property as a result of purchasing compulsory or in the bankruptcy auction.

As Arman Poghosyan assured, after the first reading the Government presented editorial proposals, which were accepted.

By the suggestion of the Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan, the debate of the issue was postponed up to two months for adjusting the provision regarding the banking system.

The items were debated in the second reading and endorsed at the extraordinary sitting of the NA Standing Committee on Economic Affairs on December 5.