Family business tax regime introduction into the Tax Code

A family enterprise is considered to be a business activity carried out jointly by more than one family member for the purpose of obtaining profit (income). Entities can work under simplified family business tax regime, in case their turnover does not exceed 18.0 million drams. They are exempt from business taxes and pay personal income tax in the amount of 5000 AMD for each family member involved. An entity can work under family enterprise tax regime, if either from January 1 - February 20, or within 20 days after the registration it has submitted the respective request to the tax authorities.