Universal mandatory income disclosure system to take gradual effect from 2023

YEREVAN, NOVEMBER 17, ARMENPRESS. The Armenian government plans to introduce a mandatory universal income declaration system for all resident citizens.

The mechanism will be introduced with phases, starting from 2023 and taking full effect in 2025.

Tax authorities will automatically pre-file the declaration forms of citizens based on their employment records and other data and citizens will have to check and submit it, finance minister Tigran Khachatryan said at the Cabinet meeting.

A social crediting system is also envisaged.

The first phase will encompass citizens who are public servants.

“In 2023, citizens who are municipal or public servants and those who are shareholders in a company whose income surpassed 1 billion drams in 2022 will be subject to filing the declaration. From 2023 citizens who’ve received over 20 million drams in loans or transactions will also be covered. From 2024 the circle will encompass citizens who are hired employees or those who have received income for employment within the framework of civil-legal contracts. From 2025, all others who aren’t included in the first two groups will also start filing declarations,” he said.

Citizens failing to file the disclosures will be fined.

The declarations of private citizens will not be disclosed to the public, unlike those of high-ranking public officials.