Tuesday, July 9 2019 16:28
Naira Badalian

Armenia is not ready to switch to universal declaration of citizens`  income from 2020, as stated earlier

Armenia is not ready to switch to universal declaration of citizens`  income from 2020, as stated earlier

ArmInfo. Since 2020, the financial authorities of Armenia are not ready to switch to universal declaration of citizens' incomes. Answering the question of AmInfo,  on July 9, David Ananyan, Chairman of the State Revenue Committee of  Armenia, said this at a meeting with journalists.

According to him, in order to establish the institution of total  income declarations, the tax and customs committee held discussions  with the tax policy body - the Ministry of Finance of the Republic of  Armenia.  "Discussions were held, for example, in the context of  changes in the profit tax, that is, the replacement of the profit tax  institute with the dividend taxation institute, with the introduction  of the statutory audit standard for joint-stock companies. As part of  this work, the establishment of the state registration institution of  a real business beneficiary is also important," he explained.

At the same time, as the head of the tax and customs committee  pointed out, the SRC is ready within 6-7 months to introduce into its  information systems the corresponding software for the transition to  a total declaration of citizens' income from 2020 already. "That is,  we are technically ready to implement the system, including through  an identification card (ID card), but in the legal sense we have  something to work on," the head of the SRC said.

As for the possible taxation of remittances of citizens (transfers)  within the framework of the institution of total income declarations,  then, according to David Ananyan, today the income received from  outside is considered taxable. "If we are not talking about the  redistribution of income within the family, that is, the husband  works abroad and sends the money to his wife, it will not be taxed.  But if we are talking about income received from a third party, for  example, as a donation and it does not was taxed by the tax agent,  the transfer should be reflected in the annual tax return and, in the  absence of an agreement with this country, the agreement on avoidance  of double taxation, is taxed, "Ananyan explained, adding that the  rule has been in effect for about 10 years, but he did not know the  examples.

Back in November 2018, ArmInfo reported that the State Revenue  Committee of Armenia intends to come up with a proposal for  amendments to the Tax Code. It was reported that in case of adopting  amendments, identification cards (ID cards) will also serve as  accumulative cards, and they can be used in shopping centers. As  stated by the head of the SRC David Ananyan, special declarations  will be prepared for people with ID-cards in the video posted on the  government's Facebook page. "We will distribute all the devices for"  reading "cards. Cash registers will determine the buyer, and when you  buy something in the store, this product will be registered as  purchased at the SRC. At that 1%, 2% or 3% of the amount all  purchases during the year will be returned to the citizen, "said  Ananyan. At the same time, as indicated by David Ananyan to ArmInfo,  if a citizen's expenses significantly exceed official revenues, then  tax officials may have questions regarding the sources of these  funds.

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