According to the latest legislative changes, the amount of interest paid for servicing a mortgage loan issued for an individual person being an employee to purchase apartments from a building being built or already constructed or houses in residential quarters or complexes in the Republic of Armenia directly from the Developer who is an individual entrepreneur or organization must be returned.
What features should the apartment have in order to use the mentioned privilege?
Are there any refund restrictions?
Amount is refunded to the extent of income tax withheld from salary and other equivalent payments to it of hired worker during each quarter, with the following restrictions:
The amount of income tax calculated from the salary or other equal payment to it paid to the employee during the respective quarter, subject to the following restrictions, is subject to refund.
Who can benefit from the benefits of receiving a mortgage loan with income tax?
The natural person who is an employee, moreover: 1) the mentioned income tax of the natural persons who are employees receiving salary, which fulfill their tax obligations through a tax agent is subject to refund if the tax agent has fully performed the tax liability declared for the paid salary or other equal payment to it presented to the tax body for the all the months of the relevant quarter 2) The mentioned income tax of natural persons who are employees receiving salary and which do not have a tax agent is subject to refund, if the hired person has fully performed the tax liability declared for the salary or for other payments equal to it made with a simplified calculation of the income tax and presented to the tax body for all months of the relevant quarter.