Personal Transfers up to 1 Million Drams No Longer Require Declaration, Says Hovhannisyan

Personal transfers up to 1 million drams are no longer subject to declaration, announced the Minister of Finance of Armenia, Vahe Hovhannisyan, during a government session.

The minister reminded that changes were made to the tax code last year, which significantly simplified the income declaration system for individuals. An automatic declaration submission system has also been implemented.

Specifically, the tax authority pre-fills the declaration based on the information available to it. The individual can make changes to the pre-filled version, and if no changes are made, the declaration is considered submitted in accordance with the legal requirements on the deadline date.

For more details, see the video.