THE BALANCE OF

TRUST LEGALITY

AND QUALITY

There are three important things to consider when choosing an accounting company:

1. Experience and qualifications of the staff
2. List of services provided
3. Terms of cooperation

Balance Accounting Company has been providing high-quality services for 9 years and offers favorable cooperation for businesses thanks to experienced and qualified specialists.

• Financial Accounting
• Tax Accounting
• Personnel Management
• Tax Consulting
• Restoration, Checking, and Automation of Accounting Records
• Tax Audit

Outsourcing refers to the strategic practice of transferring specific business processes from one company to another that specializes in those areas. A company that takes over certain functions or a part of them from another company (the customer) is called an outsourcing company or simply an outsourcer.

1. Outsourcing organizations are fully responsible for your accounting and tax calculations.
2. Working with outsourcing organizations is more profitable than having an in-house accountant.
3. Working with outsourcing organizations ensures that you are insured against future tax risks.

Annual income tax declarations are submitted by RA citizens who are residents of the RA until May 1 of the tax year following each reporting year inclusive.

Annual tax declarations of individuals shall be submitted within the following deadlines:

In 2023, for the reporting year:

1. In 2023, as of December 31, RA citizens who hold state, municipal, and/or public positions established by RA law on Public Service shall submit their declarations.
2. In 2023, as of December 31, 2022, Armenian citizens who were registered in 2023 as participants (shareholders, members) of a commercial organization-resident of RA, and who declared a gross income of one billion AMD or more as of December 31, 2022, shall submit their declarations.
3. Citizens of RA who are residents of RA and are considered as real beneficiaries defined by RA Law "On Combating Money Laundering and Financing of Terrorism" shall submit their declarations. Additionally, citizens of Armenia who are residents of RA and who have received a loan of 20 million AMD or more during this period in 2023 shall also submit their declarations.

A real beneficiary is a natural person who:

A. directly or indirectly owns 20 percent or more of the voting shares (stocks, units) of the legal entity or directly or indirectly has 20 percent or more participation in the authorized capital of the legal entity.

B. exercises real (actual) control over this legal entity by other means

C. is an official exercising general or current management of this legal entity, in the absence of an individual who meets the requirements of subparagraphs "A" and "B" of this paragraph.