"Fact" daily writes:
The Ministry of Finance submitted for public discussion the drafts "On defining the types and thresholds of non-deductible (non-taxable) incomes to be declared in the annual income tax calculation (declaration)" and "On making additions to the Government's decision N 1067-N of June 29, 2023". According to the authors of the project, the law "On Amendments and Amendments to the Tax Code of the Republic of Armenia" adopted by the National Assembly on October 24, 2025 significantly simplified the income declaration system of individuals.
In particular, it has been established that deductible incomes received from family members are not subject to declaration. It was also established that the family members of an individual who is obliged to submit an income tax calculation are his spouse, parents, sisters, brothers, children (adopted and adopted), grandfathers, grandmothers and grandchildren. At the same time, it has been established that the government has the right to set other income types or thresholds that are not subject to declaration in the annual income tax calculation. The problem is that the government's decision does not specify the types or thresholds of other non-declarable incomes.
The drafts propose to establish that the amounts of received loans are not subject to declaration, except for the cases of concession of loan amounts by the creditor or the cases of agreement with the creditor not to return these amounts in any other way (including at the time of the expiration of the legal limitation period), up to 5 million drams including one-time loans received from natural persons who are not considered family members defined by the last paragraph of Article 156 of the Tax Code, except for the amounts borrowed by the creditor in cases of concession or agreement with the creditor not to return these amounts in any other way (including at the time of expiry of the limitation period established by law), assets, works, services received free of charge from non-commercial organizations up to 300 thousand AMD, as well as insurance premiums paid by the employer for health insurance in the amount of up to 10 thousand AMD per month of income.
The value of monetary and in-kind prizes received in competitions is not subject to declaration, in an amount not exceeding 50 thousand drams for each prize, prizes of athletes and coaches who won international competitions as part of the RA national team, as well as state awards (prizes), according to the laws of Armenia, property received from natural persons who are not considered members of the family defined by the last paragraph of Article 156 of the Tax Code in accordance with the legislation of Armenia, up to 300 thousand drams, and (or) funds, with the exception of the property received as a donation from an individual considered to be the developer of a multi-residential (including multi-functional) building, subdivision building, as defined in Article 145, Part 1, Clause 1 of the Tax Code, as well as from the alienation of property belonging to an individual with the right of ownership, an individual entrepreneur who is not considered a family member and not a notary, as defined in the last paragraph of Article 156 of the Tax Code incomes, with the exception of the incomes received from the alienation of the building, its apartments, buildings (including unfinished, half-built) or other areas (excluding non-residential areas that are jointly owned) by an individual considered (considered) as the developer of a multi-residential (including multi-functional) building, subdivision building, as defined by Article 145, Part 1, Clause 1 of the Tax Code, as well as Article 147 of the Tax Code Revenues from the alienation of the plot of land (regardless of the intended purpose of the plot) defined by Clause 38 of Part 1.
Details in today's issue of "Past" daily
