ArmInfo. The Armenian government has determined certain areas of social spending, the size, the circle of family members, according to which a person will be able to claim a refund of a certain amount from the income tax paid by him within the framework of the Universal Declaration of Income. The corresponding draft decision was approved on June 29 at a Cabinet meeting.
From 2023, the system of universal declaration of income of all citizens who are residents of the Republic of Armenia will be launched in Armenia. The initiative will be implemented in three stages and by 2025 it will become mandatory for all adult citizens who are residents of the Republic of Armenia. At the first stage (for 2023), citizens holding public positions or positions in communities will declare their income.
All of them must complete declarations by May 1, 2024. The second group will include employees (they must submit a declaration before May 1, 2025). In the third group - all other citizens. For refusal to submit a declaration, a fine of 50 thousand drams is provided. It was noted that persons submitting declarations will have the opportunity to reduce tax liabilities in the amount of spending on health care, education and housing made by them or some members of their families during the tax year, confirming them with settlement documents.
Presenting the decision, Minister of Finance Vahe Hovhannisyan noted that in order to compensate for the social costs of the project, the family members of an individual considered as an applicant are his wife, parents and children (adoptive parents and adopted children).
As stated in the explanation to the document, social expenses in the area of health care are considered to be expenses aimed at purchasing a health insurance package from insurance companies operating in the Republic of Armenia. The maximum amount of social expenses will be 50,000 drams per year. This regulation will not apply to individual declarants who are beneficiaries of a social package funded by the state.
Social expenses in the line of education will be considered: tuition fees for preschool, primary, basic, secondary, pre-professional, secondary vocational, higher, postgraduate professional programs. In this direction, it is proposed to set the maximum amount of social spending at 100,000 drams per year.
