YEREVAN, June 3. /ARКА/. The State Revenue Committee of Armenia held a discussion with market participants on tax regulation of the cryptocurrency sector, the press service of the State Revenue Committee of Armenia reported.
The parties discussed the taxation of companies working with crypto assets, determining the tax base, the specifics of VAT assessment for service providers in this sector, and the application of current profit tax provisions.
Separately, issues of taxation of individuals engaged in crypto asset trading, declaring income from their conversion, legal payments in crypto assets, documenting transactions, and the use of cash registers for cash and non-cash transactions were discussed.
The State Revenue Committee also presented approaches to identifying illegal entrepreneurship on crypto platforms and unlicensed activities, including operational control measures.
Following the meeting, the parties agreed to continue their cooperation to ensure the transparent and lawful operation of the cryptoasset market.
The first meeting with market participants was chaired by Deputy Head of the State Revenue Committee Hamlet Sahakyan.
Representatives of the public organization “Union of Crypto-Business Entities,” as well as heads and employees of the committee’s relevant departments, participated.
