The 21st Measure to Mitigate the Economic Consequences of Coronavirus Has Started. Applications Must Be Submitted by July 10 Inclusive

The State Revenue Committee informs that the 21st measure to mitigate the economic consequences of coronavirus has been initiated (established by the Government of Armenia’s decision No. 963-L dated June 15, 2020). The purpose of the 21st measure is to assist taxpayers who maintained their jobs in March, April, and May 2020 (with 2-100 employees), provided that the income fund calculated for employees in May 2020 has not decreased or the decrease does not exceed 5 percent.

This information was provided by the Information and Public Relations Department of the SRC.

Eligible beneficiaries for this measure include entities whose number of employees in May 2020 exceeds (or is equal to) the number of employees reported for March and April 2020, and whose income calculated for employees in May 2020 is greater than (or equal to) 95 percent of the income calculated for March and April 2020.

It should be noted that the number of workers and the amount of income calculated for the months of March, April, and May 2020 will be based on the data reflected in the monthly calculations of income tax and social security contributions for the relevant reporting periods.

1) The calculation for March 2020 will be considered as the report submitted to the tax authority by April 30, 2020, inclusive;

2) The calculation for April 2020 will be considered as the report submitted to the tax authority by May 31, 2020, inclusive;

3) The calculation for May 2020 will be considered as the report submitted to the tax authority by June 30, 2020, inclusive.

The calculated income will be defined as the sum of the following types of income reflected in the aforementioned reports:

- Salaries and other payments equated to salaries (column 1.6)

- Remuneration for work under a civil law contract (column 1.7)

- Other taxable bases (excluding benefits) (column 1.8)

- Decrease in the taxable base amount (column 1.9)

The number of employees will be determined based on the count of workers providing the aforementioned incomes (greater than zero).

The Committee informs that taxpayers meeting the criteria for this measure will receive a notification on their personal page in the SRC's electronic reporting system within one working day following the submission deadline for the May 2020 income tax and social security contribution report, confirming their status as beneficiaries of the measure.

Taxpayers who receive the notification can submit an application (code “cw”) for a one-time grant through the same system by July 10, 2020, inclusive.

In order to receive funds on time, the Committee recommends paying attention to the following when completing applications:

1) The bank account must belong to the taxpayer recognized as the beneficiary;

2) Applications should not mention already closed accounts;

3) Double-check the accuracy of the bank account number (digits) before submitting applications.