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Official languages

ISO 4217



2,924,816 (as of 2019)

Armenian Dram


Document checklist:



"Armenia has seen a steady improvement in its economy over the past few years. According to the World Bank, Armenia’s GDP grew by 4.2% in 2019, and is projected to grow by 4.3% in 2020. This growth is largely driven by the services sector, which accounts for over 60% of the country’s GDP. The industrial sector is also growing, with a 5.2% increase in 2019.

The unemployment rate in Armenia has also decreased in recent years, from 17.7% in 2017 to 16.2% in 2019. This is largely due to the government’s efforts to create jobs and attract foreign investment.

Inflation in Armenia has been relatively low, with an average rate of 2.7% in 2019. This is due to the government’s efforts to keep prices stable and promote economic growth.

Overall, Armenia’s economy has seen steady growth in recent years, and the government’s efforts to create jobs and attract foreign investment have been successful. With continued economic growth, Armenia is well-positioned to become a major player in the region."


In Armenia, the tax system is regulated by the Tax Code, which governs both corporate and personal taxation. 

Corporate Taxation:

- The corporate tax rate in Armenia is a flat rate of 18%. 

- This tax applies to all entities, including resident and non-resident companies, that operate in Armenia.

- Corporate tax is levied on the net profits of a company, which are calculated by deducting expenses from revenue. 

Personal Taxation:

- The personal income tax rate in Armenia is also a flat rate of 23%.

- It applies to all individuals who receive income from various sources, including salaries, rental income, and capital gains. 

- In Armenia, the tax year runs from January 1 to December 31.

- The personal income tax is paid on a monthly basis, with employers withholding the tax from employees' salaries. 

Value Added Tax (VAT):

- The standard VAT rate in Armenia is 20%, which is applicable to most goods and services.

- Some products and services are subject to reduced VAT rates, such as certain food products (10%), books and newspapers (10%), and medicine (0%).

- The VAT registration threshold is AMD 58 million (approximately USD 120,000) per annum. 

The tax payment calendar in Armenia is as follows:

- Corporate taxes are paid quarterly, with deadlines on April 10, July 10, October 10, and January 10 of the following year. 

- Personal income taxes are paid monthly, with deadlines on the 20th of the following month.

- VAT returns and payments are due monthly, with a deadline of the 20th of the following month.

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