Armenian Parliament Approves Extension for Income Declaration Submission Deadline

YEREVAN, April 21. /ARKA/. At an extraordinary session on Monday, the Armenian National Assembly passed a bill on the first reading that extends the deadline for individuals to file their income declarations.

Previously, the deadline for submitting declarations for the prior reporting year was set for May 1. This has now been pushed back to November 1.

As of now, around 35,000 individuals in Armenia have completed their income declarations. 

The universal income declaration system for citizens and residents was introduced in Armenia on January 1, 2023, as part of a three-year implementation plan. The law was passed by Parliament in December 2022.

Former Finance Minister Tigran Khachatryan previously stated in November 2022 that the tax authority would pre-fill the declarations using available data, after which they would be sent to citizens via email for review.

According to the new rules, all adult resident citizens are required to file income declarations.

In the first stage, the requirement applied to those holding community or public positions and their family members, as well as individuals involved in entrepreneurial activity.

In the second stage, beginning in 2024, it was extended to private sector employees and those earning income through civil contracts.

From 2025, all other resident citizens not previously included will be required to file.

Penalties for non-compliance or late submission are set at 50,000 drams for entrepreneurs and 5,000 drams for other citizens.-0-