New Details on Income Declaration

The State Revenue Committee, in cooperation with the Government of Armenia, reminds that income declarations must be submitted for the 2024 reporting year in 2025 by individuals who submitted declarations for the 2023 reporting year and new groups (excluding individuals considered minors as of December 31).

Thus, income declarations must be submitted by citizens of the Republic of Armenia who are residents and who:

• Were considered employees during 2024;
• Received taxable income under civil law contracts during 2024;
• As of December 31, 2024, held public service, municipal service, or public positions defined by the Law on Public Service;
• As of December 31, 2024, were participants (shareholders, members) of a resident commercial organization declaring gross income of one billion drams or more based on the results of 2023;
• Are considered beneficial owners as defined by the Law on Money Laundering and Combating the Financing of Terrorism;
• Received a loan of 20 million drams or more during 2024.

At the same time, an income declaration must also be submitted by individuals who, during the tax year, received taxable income from individuals who are not tax agents and who are obliged to independently calculate income tax (for example, those who rented real estate to other individuals or performed freelance work).

In this case, the declaration is submitted by the parent, guardian, or custodian instead of the minor.