(depending on the type of work and the qualifications of the employed person)
(depending on the type of work and the qualifications of the employed person)
(depending on the type of work and the qualifications of the employed person)
The calculator allows you to calculate the approximate cost of maintenance of accounting services to support and audit the company.
CalculateAll entities must make financial statements in the currency of the Republic of Armenia (Armenian dram – AMD). In cases provided by law and accounting standards, a parent company must prepare consolidated financial statements.
Financial statements of an entity must include figures of activity of all its structural divisions, including branches and representative offices located outside the Republic of Armenia.
Financial statements must contain the following details:
Reporting period lasts from 1 January to 31 December. The first reporting period of newly incorporated (new) entities is the period from the date of their state registration to 31 December of the year of incorporation (inclusive).
According to legislation of Armenia, audit is compulsory for a number of entities. In particular, audit is compulsory for open joint stock companies, banks, bank-like financial institutions and participants of stock exchanges (public companies). Audit is also compulsory for large and medium-sized entities.
In 2019, the parliament of Armenia amended the Accounting Act and the Auditing Act, after which the concept of compulsory audit arose. In accordance with the new amendments, large and medium-sized companies that simultaneously meet two of the following three criteria must be audited:
Entities shall present annual financial statements by 15 April of the year following the reporting year.
Profit tax must be paid by 20 April (inclusive) of the year following the reporting year (the Republic of Armenia applies general and special taxation systems; under the general taxation system, entities and individual entrepreneurs are imposed with profit tax and value added tax (VAT)).
According to provisions of article 169 of the Administrative Offences Code of the Republic of Armenia, failure to provide state authorities with financial reports in cases and within the period prescribed by law or failure to publish them in the manner and within the period prescribed by law results in a penalty in the amount of 50 prescribed minimum salaries.
Failure to provide state authorities with financial statements or failure to publish them in the manner prescribed by law within 30 days after the imposition of the above penalty results in imposition of a higher penalty in the amount of 500 prescribed minimum salaries.
In accordance with article 21 of the Accounting Act of the Republic of Armenia, a parent company must make consolidated financial statements.
