ArmInfo. The Government of Armenia, through the Ministry of Economy, proposes to launch the mandatory declaration of income of individuals from January 1, 2022. As stated in the Concept of Economic Policy developed by the Ministry of Economy of Armenia, at the initial stage, persons who have received income exceeding 12 million drams per year are subject to mandatory declaration.
According to the document, from 2023, citizens with an income above 6 million drams will have to declare income, and from 2024 - 2 million drams. For persons with lower incomes, a voluntary regime will be established if taxable wages (up to 2 million AMD) are recognized as the only source of income.
The process will be activated if a number of conditions are met. First of all, in order to stimulate the declaration process, a system of social contributions will be introduced in parallel (in total, they should not exceed X% of income - in the range of 20-50% of income).
The so-called credit points will be awarded based on the economic priorities of the state. For example, for the amount paid for child care services (up to 10 years old). According to the conception of the authors of the concept, these credit scores will contribute to the process of bringing the services of nannies and private kindergartens out of the "shadow". Points will also be earned for the actual, documented costs of commuting to work by public transport. This measure, according to the authors of the document, will lead to a reduction in the "shadow turnover" in the sale of tickets in public transport.
In addition, the Ministry of Economy proposes the accrual of credit points for voluntary pension contributions above the established threshold of 5% - in the amount of 20%, which will contribute to the development of the financial market, for interest payments on a mortgage loan (for apartments and houses outside Yerevan, and in Yerevan - on real estate, the construction of which was carried out on the site of emergency housing), as well as for energy-saving apartment renovation. Certain "bonus" points will also be awarded for technical (STEM), agricultural and science education, and philanthropy.
To recall, at the end of the crisis year 2020, the actual tax collections of the state treasury amounted to 1.385 trillion drams - about 217 billion drams less than 1.602 trillion in the state budget. As a result, on New Year's Eve - December 30, the Armenian government approved the decision "On approval of measures aimed at narrowing the gap in tax policy", within the framework of which the Ministry of Economy was entrusted to develop the Concept of the Republic's economic policy, aimed mainly at reforms in the taxation.
