Armenia’s State Revenue Committee introduces VAT and excise tax calculation automatically filling system

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YEREVAN, May 23. /ARKA/. The system for filling out Turnover Tax Calculation automatically was introduced in the Electronic Reporting System of the State Revenue Committee of Armenia yet in 2018, and since 2020, taxpayers already have the opportunity to automatically carry out the Unified Calculation of VAT and excise tax.

According to the press service of the State Revenue Committee, the introduction of these systems allows taxpayers to compare data in the tax agencies’ database with their accounting data.

In the calculation, the income received for the reporting month and the expenses incurred are automatically filled in using the repository of the issued settlement documents existing in the State Revenue Committee’s information system; sales turnover calculated on the basis of cash register receipts; received settlement documents; as well as import declarations, including data relating to the Eurasian Economic Union.

The automatic filling system also minimizes the likelihood of errors. After choosing the year and month in the calculation, the system displays a message stating that the data can be updated. The taxpayer, if necessary, can edit the data entered automatically. And in those cases, the calculation is complete and does not require changes – the taxpayer simply signs the report and sends it to the State Revenue Committee.

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