YEREVAN, DECEMBER 7, ARMENPRESS. Parliament adopted at first reading the government-authored bill on introducing a universal income declaration system.

The bill on amending the tax code passed with 65 votes in favor, 5 against and 22 abstentions.

The system will take effect gradually over the course of three years if adopted. 

 According to Deputy Minister of Finance Arman Poghosyan, the purpose of the system is to “develop a personalized registration system of natural persons that would allow to more easily and with higher accuracy identify the true addressees and beneficiaries of sectoral policies, thus increase the effectiveness of the government’s programs in social, healthcare, educational, demographic and other areas.”

“The next purpose of the declarations is to create a system of social motives – the introduction of social credits or social spending system,” Poghosyan said.

If the bill becomes law, citizens will have to file their first income declarations by April 2024.

Currently, declarations of income are filed only by government officials and members of parliament in Armenia.