What types of non-taxable income are not subject to declaration

YEREVAN, February 27. /АРКА/. The Government of Armenia has simplified the system of declaration of tax-free and tax-declarable incomes of individuals, reports the press service of the State Revenue Committee.

For this purpose, on the eve of the government meeting, a decision was made, which determined the types of tax-free income of individuals and established threshold values.

In particular, it is established that in section 2 of the declaration, certain types of tax-free income are not specified, including:

- amounts of received credits,

- prizes of athletes and coaches of the national team of Armenia for victories in international competitions, including state awards,

- cash and material prizes at competitions (up to 50,000 drams for each prize),

- other types of tax-free income.

In addition, the decision provides that the following one-time incomes up to 1 million are not subject to declaration. drams included, tax-free.

- property or money received by inheritance and (or) as a gift from other individuals,

- amounts of loans received,

- income from the sale of property received from other individuals, with the exception of income from the sale of land plots,

- one-time payments upon the death of an employee's family member,

- assets, works or services received free of charge from non-commercial organizations,

- assets, works, services or payments received free of charge from the state bodies of Armenia, local self-government bodies, permanent state structures, foreign states or international, intergovernmental organizations, as well as payments from these structures in favor of individuals,

- income received from the sale of gold and precious stones to a tax agent engaged in the purchase and sale of precious metals, articles made of precious metals or precious stones through counters or outlets in the places of trade (in gold markets).

The SRC reported that if the income exceeds the established threshold, it must be declared in full. For example, if a person received 1.2 mln. drams, it is necessary to declare the entire amount, and not only the excess of 200 thousand. drams

At the same time, declarants can optionally indicate tax-free income in the declaration, even if they do not exceed the threshold or are not formally subject to declaration.

Non-taxable income received from family members (spouses, parents, brothers, sisters, children (adopted and adopted), grandmothers, grandfathers and grandchildren) are not subject to declaration regardless of their size.

The process of declaring income for 2025, according to the current procedure, will start on March 2, 2026 and last until November 1.