Cabinet sets non-taxable transfer thresholds

PanARMENIAN.Net - Personal transfers of up to 1 million drams will not be subject to declaration. At its session, the government approved the types and thresholds of non-declarable (non-taxable) income. Finance Minister Vahe Hovhannisyan presented the draft decision.

“In particular, it is proposed to establish that the following will not be subject to declaration: loan amounts received, without monetary limitation; one-time loans of up to 1 million drams received from individuals who are not family members; one-time gratuitous assets received from non-commercial organizations up to and including 1 million drams; property and funds received through inheritance or donation from individuals who are not family members, in a one-time amount of up to 1 million drams in value, and so on,” the minister said, according to 1lurer.am.

He also noted that starting this year pensioners will also be required to fill out declarations. They will submit a declaration for 2025 in 2026, and if there is no need to add additional information, the document will be completed automatically.

In 2025, the National Assembly adopted a bill that significantly simplified the system for declaring individuals’ income.

In particular, it was established that non-taxable income received from family members is not subject to declaration. At the same time, it was clarified that family members of an individual obliged to submit a declaration include the spouse, parents, sisters, brothers, children (including adoptive parents and adopted children), grandparents and grandchildren.