New Procedure for Financing Impacted Communities and Residential Areas

New Procedure for Financing Impacted Communities and  Residential Areas

On April 1, 2021, the Government of the Republic of Armenia adopted resolution N 447 – N “On compiling the list of communities and (or) settlements defined by RA Law “On Expedient Use of Environmental Tax Paid by Companies” and calculating the amount of distribution of contributions according to communities and (or) settlements”.

According to the resolution, when compiling the list of affected communities by the authorized body in the field of environment, the damage caused by the subsidiaries, branches or other subdivisions of companies in the territory of the communities will be calculated separately.

The objective of this resolutions is under RA Law “On Expedient Use of Environmental Tax Paid by Companies” providing a legal basis for determining the proportion of contributions set by the law for the affected company and (or) settlements affected by the activities of the same company.

April 02, 2021 at 15:14