Annual tax returns
All companies and subdivisions must file an annual tax return in a form prescribed by the Ministry of State Revenues by:
- 25 February (Property Tax),
- 15 April (Profit Tax),
following the end of the calendar year.

Tax return of Land Tax must be filed by companies by 1 September of the calendar year.

Individuals must file Income tax return in a form prescribed by the Ministry of State Revenues by 1 March of the following year.

Assessments
Tax Authorities will assess the amount of Profit Tax, on an annual basis, following the receipt of the annual tax return.

Additional assessments can also be raised if it is believed that the amount of tax originally assessed is rather low.

Same rule applies for individuals.

Payment and collection
Taxpayers whose prior-year Profit Tax has exceeded AMD 500,000 must pay their annual Profit Tax liability monthly, in advance, equal to the 1/16 of the actual amount of the Profit Tax for the previous year (prior to the calculation of the actual amount of the Profit Tax for the previous year, taxpayer shall make monthly advance payments in the amount constituting not less than the last advance payment of the previous year). Each advance payment of Profit Tax is payable on the 25th day of the current month. The final annual liability must be settled by 25 April following the end of the calendar year.

Taxpayers whose prior-year Profit Tax did not exceed AMD 500,000 or he did not have taxable profit in the previous year are exempted from the liability to pay monthly advance payments of Profit Tax. Newly established taxpayers may not make advance payments till 25 April of the following year.

Withholding taxes
The tax agent (income payer) is obliged to withhold tax on the day the payment is made or transferred to non-resident.

The tax agent is obliged to pay the withholding tax to the State budget within 3 banking days after the day of withholding.

Tax inspections
Returns made by the entities may be subject to inspections at the discretion of Tax Authorities.

Penalties
The basic penalty is 0.15% per day on the tax outstanding, from the day it is due until it is paid. This applies to the 365 days of delay.

Statute of limitations
Tax can be assessed in respect of a fiscal year for up to three years following the end of the year in which the liability arose.

Withholdings concerning individuals
Income Tax must be withheld by the employer from the employee's income in the following cases:
- Employees of an Armenian company.
- Employees of an Armenian subdivision of a non-resident company.
- Employees of a non-resident company who are assigned to work in the Armenian subdivision of that non-resident company.

The employer must deduct tax from the gross wage or salary at rates specified by the Law on Income Tax and tax shall beperformed, based on the total amount of payments paid to an individual by the employer (tax agent) in the course of the current month, and from the amount of personal deduction.

Advance payments concerning individuals
Taxpayers who derive income from a business activity and whose prior-year Income Tax has exceeded AMD 50,000 must pay their annual Income Tax liability quarterly, in advance, 1/6 of the actual amount of the Income Tax for the previous year (prior to the calculation of the actual amount of the Income Tax for the previous year, taxpayer shall make first advance payment in the amount constituting not less than the last advance payment of the previous year). Each advance payment of Income Tax is payable by the 15th day of the last month of each quarter. The final annual liability must be settled by 1 May following the end of the calendar year.

Taxpayers whose prior-year Income Tax did not exceed AMD 50,000 or who has incurred losses in the previous year is exempted from the liability to pay advance payments of Income Tax. Newly established taxpayers may not make advance payments up to 15 June of the following year.

Withheld taxes
Income, excluding the income received by non-residents from Armenian sources or from business activity within the territory of the Republic of Armenia, that are taxed at source within the Republic of Armenia have to be accounted for on an individual's tax return.

Tax inspections
Individual tax returns may be subject to compliance inspections in the same way as for corporate taxpayers.

Penalties
Penalties will be imposed for late or non-filing of tax returns, late or non-payment of taxes, and where income is significantly underdeclared.

The penalties are the same as noted for corporate taxpayers above.

Statue of limitations for individuals
The same rule applies as for corporate entities.