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Armenia Provides Advance Tax Payment Relief for COVID-19 — Orbitax Tax News & Alerts

On 16 June 2020, Armenia's parliament reportedly approved advance corporate tax payment relief in response to COVID-19. This includes an exemption from making an advance payment for the second quarter of 2020. Further, from the third quarter of 2020, it is provided that the most favorable method for the determination of the advance payment amount will be applied automatically, which is either 20% of the corporate tax for the previous year or 2% of revenue from the results of the previous quarter.