NATIONAL ASSEMBLY MAKES AMENDMENTS AND ADDITIONS TO LAW ON DECLARATION OF PROPERTY AND INCOMES OF NATURAL PERSONS

Noyan Tapan
Dec 18 2007

YEREVAN, DECEMBER 18, NOYAN TAPAN. At the December 18 special session,
the RA National Assembly passed in the third reading and completely the
bill on establishment and reconsideration of tariffs for provision of
services on mandatory technical inspection of transport means, and,
based on it, made an addition to the RA Law on the Public Services
Regulatory Body. In accordance with it, henceforth tariffs for
mandatory technical inspection of transport means in Armenia will
be established and revised by the RA Public Services Regulatory
Commission.

The bill on making additions and amendments to the RA Law on
Declaration of Property and Incomes of Natural Persons was passed in
the second reading and completely at the session. In the words of the
main speaker – the deputy head of the State Tax Service adjunct to the
RA government Armen Alaverdian, the purpose of these amendments is to
limit and specify the list of those who have to submit declarations
and to specify the list of property subject to declaration.

By the amendments, nonresidents have been taken off the list of those
who have to submit declarations, which, according to the government,
is conditioned by the expediency not to hinder investments by
foreign citizens in the Republic of Armenia and not to establish
extra obligations for them.

The state officials and persons related to them, who have been included
in the list of those who have to submit declarations, shall indicate
the real estate, movables, securities purchased or sold in the tax
year, as well as loans and other purchased or sold property worth
over 8 million drams or a sum in foreign currency equivalent to it.

Persons not indicated in the list of those who have to submit
declarations shall declare real estate purchased or sold in the
reporting year as a result of a deal exceeding 50 million drams,
as well as movables, securities and loans exceeding 8 million drams
(each).

The first declarations in accordance with the order stipulated
by the indicated amendments shall be submitted in 2009 – for the
year 2008. The heads of the RA government bodies will submit 2007’s
declarations in accordance with the order stipulated by the 2001 Law
on Declaration of Property and Incomes of the Heads of the Government
Bodies of the RA. This law will be recognized as invalid in January
1, 2009.