SRC Income Tax Tables in Armenia for 2024

Armenia’s tax system is efficient and business-friendly with several categories of tax, including income tax, corporate income tax, value-added tax (VAT), profit tax, turnover tax, dividend tax, real estate tax and excise tax. The taxation system in Armenia is administered by the official tax body, the State Revenue Committee (SRC).

The Tax Code of the Republic of Armenia provides guidance and support in the form of income tax tables for individuals and businesses. Taxpayers must familiarize themselves with these tax tables and the corresponding tax slabs and tax rates, for effective tax planning and to remain compliant with tax laws in Armenia.

Here you will learn about:

• headline tax rates
• personal income tax (PIT) tables
• corporate income tax (CIT) rates
• capital gains tax (CGT) rates
• withholding tax rates 
• value-added tax (VAT) rates

Headline Tax Rates in Armenia

Personal Income Tax (PIT) Tables in Armenia for 2024

Personal income tax (PIT) is paid by both residents and non-residents in Armenia. An individual is regarded as resident for tax purposes if they spend 183 days or more in the country during a tax year. However, even if they do not spend this length of time, they can be regarded as a resident if they have vital assets and interests (such as property, family or business) in Armenia, regardless of their citizenship status. 

Non-residents will be taxed on income received purely from Armenian sources.

Personal Income Tax Due Dates

Corporate Income Tax (CIT) Rate in Armenia for 2024

These are the corporate income tax (otherwise known as company taxation) rates that apply.

Corporate Income Tax Due Dates

Capital Gains Tax (CGT) in Armenia

Withholding Tax Rates Non-Residents in Armenia

In general, withholding tax (WHT) applies to both residents and non-residents. However, different rates may apply based on the recipient as well as the item the tax is applied to. For example, payments for insurance and reinsurance are subject to a WHT of 5% whereas other income received from Armenian sources are subject to a WHT of 20%.

Further, as Armenia is signatory to certain double taxation treaties (DTTs), WHT rates may vary, and may be reduced, depending on the tax treaty applicable in the taxpayer’s circumstances.

Value-Added Tax Rate in Armenia