National Assembly Adopts Bill Simplifying Reporting Process for Foundations

The National Assembly of Armenia adopted, in the second reading, a bill aimed at simplifying the reporting process for foundations. The bill was presented by the head of the State Revenue Committee, Davit Ananyan.

According to the current regulations, foundations are required to submit a report on their activities and publish the report on the azdarar.am platform. Within 30 days of the publication, they must also submit a paper version of the same report to the State Revenue Committee, which is the authorized body overseeing the foundations.

“The proposed amendment envisions electronic publication of the reports by foundations on a special page of the electronic reporting platform provided by the State Revenue Committee, thus eliminating the requirement to submit additional reports and publish on azdarar.am,” said Davit Ananyan.