Armenian government approves procedure for submission of tax declarations by citizens

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Economy

05.10.2007, 02:51

The Armenian Government approved the procedure for submitting declarations of profits and property by persons to the State Taxation Service of Armenia

YEREVAN, October 4. /ARKA/. The Armenian Government approved the procedure for submitting declarations of profits and property by persons to the State Taxation Service of Armenia, Deputy Chief of State Taxation Service Armen Alaverdian reported.

He said that persons having annual income over 8mln Drams, more than 6mln Drams on their bank accounts, as well as those who gain profit from property alienation in excess of 40mln Drams in the tax year are to submit tax declarations.

The Deputy Chief also said that the information submitted to the tax authorities will be saved in electronic format. Alaverdian also reported that citizens whose annual income exceeds the mentioned amounts will have to submit all the information on movables and real estate owned, material funds, income from securities and investments, precious metals and bars in banks.

Tax payers will be able to provide their declaration not only personally, but also through official representatives and licensed audit companies.

The State Taxation Service will continue informing potential tax payers through mass media outlets, information posters and leaflets, he said. ($1 = 333.82 Drams). N.V. –0--

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