Threshold of 300,000 Dram for Income Declaration Explained

The annual income declaration can exclude non-taxable incomes received as donations up to 300,000 drams. Incomes received as donations amounting to 300,000 drams or more are subject to declaration but not taxation. The State Revenue Committee (SRC) emphasizes this to avoid possible misunderstandings and misinterpretations, requesting that individuals follow only the official news releases from the SRC, as questions frequently posed on its platforms are answered by Committee specialists, thus ensuring that the information is official, accurate, and reliable.

In FAQ Section 3, the SRC clarified which incomes are subject to the 300,000 dram threshold and under what circumstances they should be included in declarations.

Question 1: To which incomes does the 300,000 dram threshold apply?
The 300,000 dram threshold applies to incomes received as donations, for free, as loans, or as single non-taxable incomes from the sale of property; therefore, it does not apply to taxable incomes.

Question 2: Does the 300,000 dram threshold refer to a single transaction or to transactions made throughout the day, month, or year?
The threshold applies to each transaction individually, not to the total of transactions conducted during a day, month, or year.

Question 3: If you receive 300,000 drams as a donation, must you declare that amount?
Yes, any amount of 300 drams or more must be included in the declaration; thus, if you receive exactly 300,000 drams as a donation, that sum must be declared.

Question 4: What if you have already submitted a declaration in 2025 before the threshold of 300,000 drams was established?
Non-taxable incomes for which thresholds have been established can be fully included in the declaration, regardless of exceeding those thresholds. Therefore, no additional actions are required concerning the submitted declaration. It is important to note that no tax liability arises from non-taxable incomes.

Question 5: If a transfer of less than 300,000 drams is made to your bank account or card, must you declare that amount?
If you are a declarant and during 2024 a single donation transferred to your bank account or card does not exceed 300,000 drams, you are not required to declare it, but you may include it at your discretion.

Question 6: Does the 300,000 dram threshold apply to donations received from abroad?
Yes, the threshold also applies to incomes received as donations from abroad. Thus, if you are a declarant, and during 2024 the amount received at once from abroad as a donation does not exceed 300,000 drams, you can choose whether or not to include that income in your declaration.

Question 7: Must tax be paid if the amount transferred from within or outside Armenia exceeds the 300,000 dram threshold?
No, the 300,000 dram threshold pertains to single non-taxable incomes received as donations, for free, as loans, or from the sale of property. Therefore, if during 2024, your bank account or card receives transfers exceeding 300,000 drams as donations from within or outside Armenia, declaring that income will not lead to tax obligations.

Question 8: If the transaction amount exceeds 300,000 drams, should you only declare the exceeding amount or the entire amount?
If during 2024, you received a single donation from another citizen of, for example, 400,000 drams, then the entire amount of 400,000 drams should be reported in the declaration.

Question 9: Do you need to declare salary if it does not exceed the 300,000 dram threshold?
The 300,000 dram threshold does not apply to taxable incomes. Therefore, salary must be included in the declaration as it is considered taxable income.

Question 10: If you have more than 300,000 drams returned from an online purchase, must that amount be included in the declaration?
If you made an online purchase exceeding 300,000 drams during 2024, but subsequently returned the goods, and the same amount was refunded to you, that does not count as income and should not be included in the declaration.

Question 11: If you did not work in 2024 but received one-time transfers exceeding 300,000 drams as donations during the year, must a declaration be submitted?
No, if you did not work in 2024 and are not required to declare under other legal conditions, but received transfers exceeding 300,000 drams during the year, you do not have to submit a declaration in 2025.

Question 12: If you receive an amount under 300,000 drams from abroad for professional work, must that income be included in the declaration, and is it subject to taxation?
The 300,000 dram threshold does not apply to taxable incomes. Consequently, any salary received should be fully included in the declaration because it is considered taxable income. Furthermore, this income is taxable at a rate of 20% in Armenia, which can be reduced by the amount of tax paid in another country.

Question 13: Are incomes received from the sale of shares or equity included in the declaration if they exceed 300,000 drams? Is there a deadline for this?
There is no threshold established for declaring incomes received from the sale of shares or equity. Moreover, incomes obtained from the sale of shares or equity are considered non-taxable, except in the following case: if an individual has invested a building or other structure in the authorized capital of a company and acquired shares in return, they will have a 20% income tax obligation upon selling those shares within the year of acquisition or within the subsequent three years.

Question 14: If you lent an amount exceeding 300,000 drams to another person who returns it in the same year, who must include that amount in the declaration?
The person who receives the loan must include the amount exceeding 300,000 drams in their declaration. The lender does not include either the provided loan or the amount returned in their declaration. If you have questions that remain unanswered, feel free to address them to us through comments or private messages.