Which incomes will not be declared: new details revealed
The Ministry of Finance proposes to establish types and thresholds for deductible incomes not subject to declaration. Minister of Finance Vahe Hovhannisyan stated this during the Government session on February 26.
According to the new amendments, amounts up to 1 million AMD received from family members will not be subject to declaration. Family members are considered to be a spouse, parent, sister, brother, grandfather, and grandmother.
The Minister emphasized that gifts, inheritance, loaned amounts up to 1 million AMD, income from the sale of personal property up to 1 million AMD (except for land plots), as well as assets and services up to 1 million AMD received from non-commercial organizations, are also not subject to declaration.
The amendments to the bill follow discussions in the National Assembly (NA).
