INCOME TAX FROM SUMS PAID TO CITIZENS AGAINST REAL ESTATE ALIENATED FOR
STATE NEEDS TO BE REFUNDED
YEREVAN, OCTOBER 26, NOYAN TAPAN. At the October 26 sitting, the
Armenian government made a decision on the order of refund (in some
cases) and compensation (in other cases) of income tax taken away from
the sums paid to citizens for cancelling their right of property
during the alienation of their real estate for state needs. Davit
Hambartsumian, Head of the Budgetary Process Management Department of
the RA Ministry of Finance and Economy, told reporters after the
sitting that inflation will not be taken into account when paying back
these sums. It was noted that the total amount to be refunded makes
about 1 billion drams (about 2.5 mln USD) and will be allocated from
the state budget.