The RA Customs system was established on January 4th, 1992 through RA Presidential Decree. During the first years of activity it has been functioning as a Customs Department. Since July 1999 it has been integrated into the structure of the RA Ministry of State Revenues. The State Customs Committee under the RA Government was established in 2001 based on the Republic of Armenia Government Decision No. 603 on “Establishment of the State Customs Committee under the Republic of Armenia Government” dated on July 6th, 2001. The same Decree confirmed the Central Apparatus structure of the State Customs Committee under the Republic of Armenia Government. Approximately 800 employees presently work in the system of the State Customs Committee under the Republic of Armenia Government.

Since 1996 <<ASYCUDA ++>> automated system for declaration of commodities and vehicles was installed in the customs system.

The main taxes in the Republic of Armenia are Profit Tax (Corporate Income Tax), Income Tax (Personal Income Tax), Value-Added Tax and Excise Tax.

The Armenian legislation does not use the concept of binding precedents and there are no published judgments on which to base with certitude the interpretation of tax legislation.

Armenian tax legislation consists of “Law Of the Republic of Armenia On Taxes” and Laws on different types of taxes.

The Armenian tax legislation includes anti-avoidance rule. The arm’s length principle generally applies to transaction related parties. Such transactions shall be performed at market value.

The owners of real estate and vehicle are subject to an annual Property tax based accordingly on the value of buildings and the power of a traction engine. The landowners, permanent and temporary users of the state property land are subjects to an Annual Land Tax based on the cadastral value of land.

There is no other tax on capital or net worth of companies in the Republic of Armenia. There is no Individual Wealth Tax in the Republic of Armenia.