Armenian parliament approves bill on introduction of universal income declaration system
YEREVAN, December 23. /ARKA/. The Armenian parliament on Friday approved in the second and final reading a bill on the introduction of a universal income declaration system.
Between the first and second readings, a string of changes were made to the bill. Particularly, initially it was planned that the system will be introduced in stages within 3 years starting from 2023.
Civil servants, persons holding public offices, notaries, individuals engaged in entrepreneurial activity (Armenian resident citizens, who are shareholders of Armenian resident trade organizations, which declared the gross income of 1 billion AMD in 2022, as well as those resident citizens, who in 2022 received loans of 20 million AMD from the mentioned organizations) were to submit income declarations.
The amendments removed from this list notaries, citizens who receive income from work abroad and citizens who receive income tax refund for paying the mortgage loans. They will have to file an income declaration starting 2025.
In addition, all minors are exempt from the obligation to file income declarations. Other changes include a warning mechanism for failure to file an income declaration. In case of ignoring a warning and failure to submit the declaration, a fine of AMD 50 thousand for individuals involved in entrepreneurial activities and AMD 5 thousand for other citizens are envisaged. The fines will be doubled if the declarations are not submitted within 30 days.
In addition, the deadline for submission of declarations was changed from April 20 to May 1. Earlier, Finance Minister Tigran Khachatryan said that declarations will be pre-filled by the tax authorities and sent to e-mails of citizens for review.
Each citizen will have an individual number. Using the identification data provided by the tax authorities, taxpayers will be able to enter the electronic declaration system and find their pre-filled declarations. If necessary they can make changes and approve them. .($1 – 394.07 drams)-0--
