By 2025, the Armenian government intends to introduce a system of mandatory declaration of income for all citizens of the country. A corresponding decision was made during the cabinet meeting on Thursday.
“The mandatory declaration of income for all citizens will be introduced in three stages. Moreover, we are considering the possibility of fines for those citizens who do not fill out the declaration,” Finance Minister Tigran Khachatryan said.
The Minister said citizens who hold community or public positions and those who are shareholders in an organisation whose turnover exceeded 1 billion drams in 2022 should declare their income in the first stage. This will also apply to citizens who would receive loans and credits amounting to 20 million drams or more in 2023․
The decision to introduce a system of mandatory declaration of income must also be ratified by the parliament of the Republic.
“The mandatory declaration of income for all citizens will be introduced in three stages. Moreover, we are considering the possibility of fines for those citizens who do not fill out the declaration,” Finance Minister Tigran Khachatryan said.
The Minister said citizens who hold community or public positions and those who are shareholders in an organisation whose turnover exceeded 1 billion drams in 2022 should declare their income in the first stage. This will also apply to citizens who would receive loans and credits amounting to 20 million drams or more in 2023․
The decision to introduce a system of mandatory declaration of income must also be ratified by the parliament of the Republic.
