Deadline for Submitting Declarations Extended

The Armenian government extended the deadline for submitting universal declarations to November 1 during today’s meeting.

The proposal to amend the Income Tax Law was initiated and presented to the government by Babken Tunyan, Deputy Chair of the National Assembly's Standing Committee on Economic Issues and a member of the Civil Contract faction.

The draft proposes changing the deadlines for submitting annual income tax calculations and for paying income tax within the framework of the universal declaration system for individuals.

It is worth noting that Prime Minister Nikol Pashinyan announced the extension of the declaration submission deadline verbally on January 31 of this year. He justified his announcement by stating that the queue for obtaining identification cards extends until June, and many will not have the time to complete their declarations.

Additionally, it should be reminded that employees and individuals earning income under civil contracts are required to submit their declarations by May 1. If the declarant has incurred social expenses, they are entitled to compensation, which has a maximum limit of 100,000 drams per year.