RA State Revenue Committee provides further explanations for income  declaration

ArmInfo.The State Revenue Committee (SRC) explains in which cases it is permissible to not  declare income in the amount of up to 300 thousand drams. It is also noted that income received as a gift in the amount of 300 thousand drams or more is subject to declaration, but not taxation.

1. To which types of income does the non-declarable threshold of 300  thousand drams apply?

The threshold of 300 thousand drams applies to NON-TAXABLE income  received as a gift, gratuitously, loan or one-time income from the  alienation of property, that is, this threshold does not apply to  taxable income.

2. Does the threshold of 300 thousand drams apply to a single  transaction or to transactions made during the day, month or year?

The threshold of 300 thousand drams applies to each transaction, and  not to the total amount of transactions made during the day, month or  year.

3. If you received 300 thousand drams as a gift, do you need to  declare this amount?

Yes, you must indicate an amount of 300 thousand drams or more in the  declaration, that is, if you were given exactly 300 thousand drams as  a gift, then this amount must be included in the declaration.

4. What if you have already filed a declaration in 2025 before the  threshold of 300 thousand drams was established?

Non-taxable income for which thresholds have been established can be  indicated in the declaration in full, regardless of whether the  specified thresholds (amounts) are exceeded. Thus, no additional  actions need to be taken in relation to the submitted declaration. It  should be taken into account that no tax liability arises from  non-taxable income.

5. If you received a transfer to your bank account or card in the  amount of less than 300 thousand drams, do you need to declare this  amount?

If you are a declarant and the amount transferred as a one-time gift  to your bank account or card during 2024 does not exceed 300 thousand  drams, then you can exclude or include information about this income  in your declaration at your discretion.

6. Does the threshold of 300 thousand drams apply to gifts received  from abroad?

Yes, the threshold of 300 thousand drams also applies to income  received as gifts from abroad. In other words, if you are a declarant  and the amount transferred to you from abroad as a one-time gift  during 2024 does not exceed 300 thousand drams, then you can exclude  or include information about this income in your declaration at your  discretion. 

7. DO I HAVE TO PAY TAX if the amount transferred from the territory  of the Republic of Armenia or from abroad exceeds the threshold of  300 thousand drams?

No, the threshold of 300 thousand drams applies to TAX-FREE income  received as a donation, gratuitous, loan or from the alienation of  property. In other words, if during 2024 transfers in the amount of  more than 300 thousand drams were made to your bank account or card  as donations from the territory of the Republic of Armenia or from  abroad, then by declaring this income, you will not have any tax  obligations.

8. If the transaction amount exceeds 300 thousand drams, should only  the excess amount or the entire amount be included in the  declaration?

If, for example, 400 thousand drams were received as a one-time gift  from another citizen during 2024, then the income in the declaration  must be exactly 400 thousand drams.

9. Do I need to declare my salary if it does not exceed the threshold  of 300 thousand drams?

The threshold of 300 thousand drams does not apply to taxable income.  Therefore, the salary must be included in the declaration, since it  is considered taxable income.

10. In the event of a refund for an online purchase in excess of 300  thousand drams, should this amount be included in the declaration?

If during 2024 you made a one-time purchase online in the amount of  more than 300 thousand drams, but you returned the goods and received  a refund of the same amount in a non-cash form, then this is not  considered income and information about this amount should not be  included in the declaration.

11. If you did not work in 2024, but during the year you received a  one-time gift in the amount of more than 300 thousand drams, do you  need to file a declaration?

No, if you did not work during 2024 and are not a declarant in  accordance with other provisions of the law, but transfers from the  territory of the Republic of Armenia or from abroad in the amount of  more than 300 thousand drams were made to your bank card or account,  then you are not required to file a declaration in 2025.

12. If you have received an amount not exceeding 300 thousand drams  from abroad for performing professional activities, should this  income be included in the declaration and is it taxable or not?

The threshold of 300 thousand drams does not apply to taxable income.  Therefore, the salary must be included in the declaration in full,  since it is considered taxable income. At the same time, this income  is subject to taxation in the Republic of Armenia at a rate of 20%,  from which the amount of tax paid in a foreign country is deducted.

13. Is income from the alienation of a share (stock) declared if it  exceeds 300 thousand drams? Is this income considered taxable? Is  there a deadline for this?

There is no threshold for reflecting income from the alienation of a  share (stock) in the reporting. In this case, income received from  the alienation of a share (stock) is recognized as non-taxable  income, except for the case where an individual contributed a  building or other structure to the authorized capital of an  organization and acquired a share (stock) in exchange for this, which  is alienated in the year that includes the date of acquisition: or  within three years following it, then the alienation of a share  (stock) from an individual entails the obligation to pay income tax  at a rate of 20%.

14. If during 2024 you lent another person an amount exceeding 300  thousand drams, and he returned it in the same year, who includes  this amount in the declaration?

The person who received the loan is obliged to indicate in the  declaration the loan amount exceeding 300 thousand drams. The person  providing the loan does not indicate in the declaration either the  amount of the loan provided or the amount of the loan to be repaid.