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The purpose of the draft is the regulation of submitting brief information on the movement of the taxpayers’ bank accounts for integration to the risk management system, as well as the process of submitting bank statements to the tax authority during the tax inspections and examinations: The Chairman of the State Revenue Committee (SRC) Rustam Badasyan said this at the sitting of the RA NA Standing Committee on Economic Affairs on January 10, presenting the addenda and the amendments being proposed in the Tax Code. As the key rapporteur clarified, the bank account brief information includes the data on the available balance of the taxpayer’s bank account, currency, tax year by January 1 and December 31, as well as during the tax year the sum of the amounts entered to the tax authority and the sum of the amounts withdrawn. In parallel with the income declaration system it was also proposed to set a duty of submitting the bank account statements of the individual entrepreneur or physical persons not being notary that the tax authority will have opportunity to set control on right declaration of the incomes and taxes reflected in the declarations.

Rustam Badasyan informed that the draft was debated with his other colleagues of the Central Bank (CB) and the Government. The purpose is the expansion of the framework of information necessary for tax control. He stressed that the information is protected by tax secret and cannot be used by any other purpose.

The Deputy Chair of the RA NA Standing Committee on Economic Affairs Babken Tunyan requested that the SRC once again would reaffirm that the income declarations don’t have common accessibility. The SRC Chairman informed that until 2026 the declaration system will be introduced phase by phase, and they will receive information of general character containing only bank secret, which refer to the declarant. “I reaffirm regarding the declarations that they are closed, and are not subject to publication,” Rustam Badasyan said, adding that everything will be done to ensure the secrecy. He informed that the awareness process had started from the last year.

The draft was endorsed.

The debate of the package of the draft laws on Making Addendum to the law on State Duty and on Making Addendum to the law on Aviation was postponed up to two months.