Armenia is to replace its three progressive personal income tax brackets with a flat personal income tax rate of 23% implemented Jan. 1, 2020, under legislation that Armenia’s National Assembly passed June 25.
The tax amendment law (Armenian) specified that the rate of the flat personal income tax is to decrease to 22% effective Jan. 1, 2021, then to 21% effective Jan. 1, 2022, and then to 20% effective Jan. 1, 2023.
The three personal income tax brackets that have been in effect for employees in Armenia since Jan. 1, 2018, and that are to be in effect until Dec. ...
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