Armenian government supports ruling faction`s legislative initiative   to simplify  submission of declarations by individuals

ArmInfo.The Armenian government supports the legislative initiative proposed by the ruling Civil Contract faction, aimed at simplifying the submission of income  declarations by individuals, as announced by Deputy Finance Minister  Arman Poghosyan during a Cabinet meeting on October 16, when  presenting amendments to the Tax Code and related laws.

According to Poghosyan, the main change is that if an individual's  information is visible to the State Revenue Committee, the  declaration will be automatically completed. Individuals will still  have the right to verify the accuracy of the data in the declaration  and make any necessary changes. If no changes are needed,, the  document will be considered accepted by the  deadline of July 1. A  transition period until November 1 has been established for the  current year. Since there will likely be very few cases of non-  submission of  a declaration, the provision for penalties for late   filings will be removed from the Code of Administrative Offenses.

At the same time, all declarants eligible for a partial refund of  educational expenses must log into the State Revenue Committee system  and electronically sign their declaration. It is also planned to  determine which incomes need to be registered and which are not  mandatory. Specifically, the issue of eliminating the requirement to  record income such as loans, credits, and overdrafts is currently  being discussed. The Ministry of Finance also proposes not  registering transfers between family members for household expenses.  Furthermore, if the State Revenue Committee requests an individual's  data from banking and financial institutions, it can only be  transferred with the individual's consent. According to Poghosyan,  approximately 130,000 people have completed declarations to date. 

In turn, RA Prime Minister Nikol Pashinyan noted that 61% of citizens  who have already submitted their declarations had made no changes to  the automatically completed documents. If we include individuals who  have only added their own loans and credits, for which the State  Revenue Committee can access information with the individual's  consent, the total is 79%.