The National Assembly of Armenia has adopted, in the second reading and in full, amendments to the Tax Code aimed at improving the personal income declaration system.
The law was passed with 60 votes in favor, one against, and three abstentions, according to Armenpress.
Earlier, co-author of the bill and MP Babken Tunyan explained that under the new law, citizens required to file an income declaration but who do not log into the system will no longer be penalized. Their declarations will be considered submitted based on data already available to the State Revenue Committee (SRC). In other words, if citizens trust that their income is accurately reflected in the SRC database, no further action will be necessary.
However, those wishing to receive income tax refunds in the education and healthcare sectors (under the social credits system) must log in and confirm their declarations.
With citizen consent, the SRC will also be able to automatically obtain necessary data from banks, such as interest income from deposits, eliminating manual input while maintaining banking confidentiality.
The law also clarifies that monetary transfers between close family members (parents and children, spouses, siblings) are not subject to declaration.
Loans and borrowings received by individuals will also be excluded from the declaration requirement; these rules will be further detailed by a government decision.
