iCalculator™ AM: Armenia Tax Calculators

Welcome to iCalculator™ AM, your comprehensive suite of free tax calculators for Armenia. iCalculator™ has provided free tax calculators for Armenia since 2019. Since those early days we have extended our resources for Armenia to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Armenia Tax Calculator and salary calculators within our Armenia tax section are based on the latest tax rates published by the Tax Administration in Armenia. In this dedicated Tax Portal for Armenia you can access:

Armenia Tax Calculator 2023/24

The Armenia Tax Calculator below is for the 2023 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Armenia. This includes calculations for

1. Employees in Armenia to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Armenia.

Overview of Taxation in Armenia

Armenia, a dynamically evolving economy, has a structured taxation system that is crucial for businesses and individuals operating within the country. This overview provides insights into the different types of taxes and the general compliance requirements in Armenia, sans specific tax rates.

Types of Taxes in Armenia

1. Income Tax: This tax is levied on the income of individuals and entities. Armenia follows a progressive tax system for individuals, while companies are subject to a flat corporate income tax rate.
2. Value Added Tax (VAT): VAT is a consumption tax placed on a product whenever value is added at a stage of production and at the point of sale.
3. Excise Taxes: These are indirect taxes applied to the sale or use of specific products such as alcohol, tobacco, and certain luxury items.
4. Property Tax: Levied on real estate property, this tax is based on the value of the property.
5. Payroll Taxes: These taxes are withheld from an employee's salary and include contributions to social security and health insurance.
6. Customs Duties: Taxes imposed on imported goods. The rate depends on the type of goods and their country of origin.

Tax Compliance in Armenia

Tax compliance in Armenia encompasses various aspects, including timely filing of tax returns, accurate reporting of income and transactions, and prompt payment of taxes due. Key points in tax compliance include:

1. Regular Tax Filings: Both individuals and businesses are required to file tax returns annually. Businesses may also need to file quarterly or monthly returns for certain taxes like VAT.
2. Documentation: Maintaining accurate records and documentation is crucial for compliance. This includes invoices, receipts, and financial statements.
3. Electronic Filing and Payment: Armenia encourages electronic filing of tax returns and payments, streamlining the process and enhancing efficiency.
4. Audits and Inspections: Tax authorities conduct audits and inspections to ensure compliance. Businesses and individuals must be prepared for such examinations.
5. Penalties for Non-Compliance: Failure to comply with tax laws can result in penalties, including fines and legal consequences.

Understanding the taxation system in Armenia is vital for effective financial planning and legal compliance. This overview offers a fundamental guide to the various taxes and compliance requirements in Armenia.