Armenia Increases Late Payment Penalty for SMEs

On 11 September 2024, the Armenian parliament approved an increase in the late payment interest rate from 0.04% to 0.075% for each day of delay up to a maximum of 730 days with effect from 1 January 2025. As previously reported, Armenia reduced the rate to 0.04% with effect from 21 April 2020 to support companies impacted by the COVID-19 pandemic.