Starting a business in Armenia is much easier when you understand the basic accounting and tax requirements from the start. Here\u2019s a simple guide for those taking their first steps.<\/p>\n
In Armenia, the most common business structures are:<\/p>\n
Individual Entrepreneur (IE)<\/strong> \u2013 ideal for small businesses. Easy to register, minimal requirements.<\/p>\n<\/li>\n Limited Liability Company (LLC)<\/strong> \u2013 a full-fledged legal entity, suitable if there are multiple founders.<\/p>\n<\/li>\n There are also other forms (JSC, OJSC, etc.), but they are rarely used for small businesses.<\/p>\n<\/li>\n<\/ul>\n Tip:<\/strong> Before deciding, consult with an experienced accountant or lawyer to choose the best option.<\/p>\n Several tax regimes are available in Armenia. It\u2019s important to select the one that\u2019s most beneficial for your type of business and expected turnover.<\/p>\n Turnover tax<\/strong> \u2013 if your annual turnover does not exceed AMD 115 million (for trade, services).<\/p>\n<\/li>\n Preferential tax regimes<\/strong> \u2013 for certain industries.<\/p>\n<\/li>\n General taxation<\/strong> \u2013 for larger businesses.<\/p>\n<\/li>\n Self-employed<\/strong> \u2013 for specific activities with turnover up to AMD 24 million.<\/p>\n<\/li>\n<\/ul>\n \u00a0The choice of tax regime is made immediately after registration, and you cannot change it during the year.<\/p>\n Register through the Cadastre Committee (or online at e-register.am).<\/p>\n<\/li>\n After registration, you must register with the tax authorities (if you are a legal entity).<\/p>\n<\/li>\n Submit monthly tax reports electronically via efile.taxservice.am<\/strong>.<\/p>\n<\/li>\n Even if you have no turnover, you are still required to submit \u201czero\u201d reports.<\/p>\n<\/li>\n<\/ul>\n You are required to: If you plan to hire employees:<\/p>\n Register them in the tax system.<\/p>\n<\/li>\n Pay income tax, social contributions, and other mandatory payments.<\/p>\n<\/li>\n Submit monthly payroll reports.<\/p>\n<\/li>\n<\/ul>\n Small IEs can keep basic records themselves, but it\u2019s advisable to work with a professional at least initially.<\/p>\n<\/li>\n LLCs usually hire an accountant.<\/p>\n<\/li>\nChoose the right tax regime<\/strong><\/h2>\n
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Registration and reporting<\/strong><\/h2>\n
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Financial documentation<\/strong><\/h2>\n
\u00a0Keep all invoices, receipts, contracts.
\u00a0Ensure that documents comply with established formats \u2013 either electronic or paper.
\u00a0Retain documents for at least 5 years.<\/p>\nHiring employees<\/strong><\/h2>\n
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How to manage accounting<\/strong><\/h2>\n
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