Transfers between personal accounts, cards, or from an account to a card and vice versa will not be declared
The Chairman of the State Revenue Committee of Armenia, Eduard Hakobyan, stated on Public Television that transactions up to 300,000 AMD are not subject to declaration, he clarified that the 300,000 AMD threshold applies to each individual transaction, not the total sum of similar transactions.
After studying the pattern of transfers within the banking system, the committee considers transactions exceeding 300,000 AMD subject to declaration. He also informed that transfers between personal accounts, cards, or from an account to a card and vice versa are not considered income and are not included in income declarations.
Additionally, if a citizen deposits money into their account or card through a payment terminal themselves, this is not considered income and should not be included in the declaration.
If, during 2024, transfers have been made to a citizen from abroad as donations, information about those amounts must also be included in the declaration, however, such income is not subject to taxation. Information regarding monetary gifts received on various occasions must also be included in the declaration but is not subject to taxation.
If a citizen has lent money to someone, the repayment of that loan is not considered income and does not need to be declared.
Employees, as well as individuals who have received taxable income under civil contracts, must submit declarations by May 1. The declaration should include all income received by the citizen in 2024.