The Armenian government has given a negative assessment to the legislative proposal aimed at canceling the mandatory income declaration system for individuals.

The bill was introduced for discussion by the opposition Armenia faction, which proposed amendments to the Tax Code, Sputnik Armenia reports.

According to the Ministry of Finance, repealing the income declaration requirement contradicts the government’s established policy.

“The proposal does not align with the policy directions set by the government’s 2021-2026 program, which envisions the implementation of an effective income declaration system for individuals. This system will also contribute to the introduction of the widely used ‘social credits’ model in international practice,” the ministry stated.

Employees and individuals earning income through civil contracts were required to submit declarations by May 1, but the deadline was later extended to November.

Those who have filed declarations and made social expenditures may qualify for a reimbursement of up to 100,000 drams.