Armenia Discusses Tax Regulations for Cryptocurrency Market

The State Revenue Committee of Armenia has initiated a dialogue with market participants to clarify tax regulations for the cryptocurrency sector.

During the meeting, experts discussed taxation of companies working with crypto assets, including determining tax base and assessing VAT. The conversation also covered specifics of current profit tax provisions and their application in this area.

The discussion did not only focus on corporate taxation but also addressed issues related to individuals trading crypto assets, such as declaring income from conversion and legal payments in crypto assets.

Additionally, the State Revenue Committee presented approaches for identifying and preventing illegal entrepreneurship on crypto platforms. Operational control measures were also discussed.

The first meeting with market participants was led by Deputy Head of the State Revenue Committee Hamlet Sahakyan. Heads and employees from relevant departments participated along with representatives from the public organization 'Union of Crypto-Business Entities.'