On real estate leasing as an entrepreneurial activity

Dear Colleagues, According to the amendments made to the RA Tax Code, starting from December 1, 2023, the leasing of real estate by citizens is not considered entrepreneurial activity, if the rights arising from the real estate lease transaction have received state registration or the taxpayer has calculated income from the real estate lease income under the procedure established by the Code, or the application on the right to receive income related to real estate is submitted to the tax authority within five days from the date of its actual occurrence. The lessor will be charged a fine if renting out the property is considered an entrepreneurial activity. To find out more details and get a consultation, you can contact us at 093 12 30 08.