Amendments to the procedure for accounting for certain types of expenses for profits tax purposes

Dear Colleagues, According to the amendments made to the RA Tax Code, the procedure of accounting for certain types of expenses has been amended to determine the income tax base, which applies to the emerging relations from January 1, 2022. In particular, it concerns the determination of their initial and balance sheet value in cases where buildings, structures, residential or other premises, and land plots are leased or rent-free, as well as in the procedure for reducing capital expenditures on fixed and intangible assets leased under operating leases. To find out more details and get a consultation, you can contact us at 093 12 30 08.