State Revenue Committee on Taxable and Non-Taxable Incomes

The State Revenue Committee of Armenia has detailed the declaration process regarding taxable and non-taxable incomes. According to the directive from the head of the Committee, a threshold of 300,000 AMD has been established, allowing incomes below this threshold to be excluded from an individual's tax declaration.

Question 1: Are the incomes declared subject to taxation?
Not all incomes declared are subject to taxation. For instance, if you are a declarant and are required to submit an income declaration in 2025, any additional incomes received apart from your salary, such as donations transferred from family members or other individuals to your bank account, do not constitute tax obligations.

Question 2: Is your movable and immovable property subject to declaration?
No, movable and immovable property is not subject to declaration; you must only include incomes received during the accounting year of 2024.

Question 3: Are your expenses required to be declared?
No, expenses are not subject to declaration; you must declare only the incomes received within the accounting year of 2024.

Question 4: Should you declare the sums transferred to your bank account or card?
Only the incomes received by an individual during the reporting year are filled out in the annual income declaration. Therefore, if the transferred sums to your bank account are considered as received incomes, they must be included in the respective sections of the declaration. It's important to note that one-time non-taxable incomes received as donations or from the sale of property can be left out of the declaration if they are below 300,000 AMD.

Question 5: Should internal transfers between your own accounts be included in a declaration?
No, transfers between your accounts are not considered incomes and should not be included in the income declaration.

Question 6: If you transferred money from a payment terminal to your account, should that data be included in the declaration?
No, if you personally made a transfer from a payment terminal to your account, it does not count as income and should not be included in the declaration.

Question 7: If the declarant is also a founder of a business, should the business's income be included in the declaration?
No, business incomes are considered entrepreneurial incomes and are not included in the declaration.

Question 8: If money is transferred to you from abroad during 2024, should that be included in the declaration?
Incomes received during the reporting year are filled out in the annual income declaration. Hence, if the funds received from abroad are considered as incomes, they must be included in the respective sections of the declaration. Remember, one-time non-taxable incomes received as donations or from the sale of property can be left out of the declaration if they are below 300,000 AMD.

Question 9: If you are a resident citizen of Armenia and received a salary from abroad in 2024, should those incomes be declared?
Yes, if you are a resident citizen of Armenia but work for a company outside Armenia and earn your salary from that country, those incomes must be included in your declaration. Furthermore, if the salary has already been taxed in the foreign country at a rate of 20% or higher, it will not be taxed again in Armenia. However, if the tax rate in the foreign country is below 20%, the difference must be paid in Armenia.

Question 10: Are incomes received from abroad that were already taxed in their country subject to taxation again in Armenia?
If the incomes have been taxed abroad, you will only pay the difference up to 20% in Armenia for the income already taxed abroad.

Question 11: If an Armenian resident citizen receives income from an individual abroad for services rendered, should that income be included in the declaration?
Yes, incomes received in exchange for services from any individual must be included, regardless if the income is received in Armenia or abroad, and will be taxed at a rate of 20%.

Question 12: Should the co-borrower include the income from the loan received in the declaration?
No, co-borrowers do not include information regarding loans received in their declarations.

Question 13: Are incomes derived from bank deposits, bonds, securities, and shares subject to declaration?
Yes, if you have received incomes from bank deposits, bonds, securities, and shares in 2024, this information must be included in the declaration.

Question 14: If you rented out your property in 2024, should the income from that rental be included in the declaration?
Yes, if you rented out your property to another individual, you must submit your income tax declaration and pay the applicable 10% income tax to the state budget.

Question 15: If you sold property in 2024, should the income from that sale also be declared?
Yes, any income from the sale of property to another individual must be included in your declaration as non-taxable income.

Question 16: Should donations be included in the declaration?
If you have received movable or immovable property or monetary funds as a donation in 2024, these should be included in the declaration but will not be subject to taxation.

Question 17: Should cash gifts received on various occasions be declared?
Yes, if you received cash gifts from individuals during different occasions in 2024, those amounts must be included in the declaration, although they are not subject to taxation.

Question 18: If you lent money to someone, is the repaid amount subject to declaration?
No, the return of the lent money does not constitute income and is not subject to declaration.

Question 19: Are savings subject to declaration?
No, savings accumulated from incomes received over various years are not subject to declaration.

Question 20: If a citizen of Armenia receives income for services in 2024, should that be declared?
Yes, all incomes received for services must be included in the declaration, which is subject to taxation.

Question 21: Should benefits, pensions, scholarships, etc. be included in the declaration?
Yes, if you received benefits, pensions, disability, military pensions, scholarships in 2024, this income must be included in your declaration, although they are not subject to taxation.

Question 22: Should childcare benefits and alimonies be declared?
If you received these benefits in 2024, the parent receiving them must include this income in their declaration, but it will not be subject to taxation.

Question 23: Should winnings from lotteries or games be declared, and are they subject to taxation?
Yes, winnings received during 2024 are subject to declaration. However, winnings from casinos, betting, or lotteries are not subject to taxation.

Question 24: Should reimbursements for business trip expenses be reported?
Yes, if you received reimbursement for business trip expenses in 2024, this information must be included in your declaration, and these incomes are not subject to taxation. However, reimbursements over 3 million AMD must be filled out in the declaration; amounts below that can be omitted.