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With the new regulations proposed in the Tax Code, it is designed to expand the scope of information necessary for the administration carried out by the tax authority, based on international experience. Much wider availability has long been planned in many countries. The draft stipulates that every year, through the Central Bank, the tax authority should receive information on the general data of taxpayers’ bank account movements. Presenting the regulations proposed in the Code at the NA sitting, the Chairman of the RA State Revenue Committee (SRC) Rustam Badasyan noted that it is not about personalizing data, obtaining bank secrets at the transaction level, but about the total movement of the given bank account in case of legal and natural persons, the annual inflows and outflows, the total turnover. “The goal is to integrate it with our risk system and combine the data. For example, in case of natural persons, it refers exclusively to declarant persons, in the same sequence as they will become declarants. We will compare that data with other data mentioned in the bill of entry . In case of legal persons, we will integrate them with the calculations presented by them and take out the risks,” the SRC Chairman explained. There are also regulations that refer to other types of information required during further administration.

Tsovinar Vardanyan informed about the endorsement of the NA Standing Committee on Economic Affairs.