The declaration of property and income is submitted by persons holding certain positions. The purpose of submitting a declaration of property and income is to combat corruption and abuse through the introduction of a system for declaring property and income of senior officials of the authorities of the Republic of Armenia. The public's trust in the property and income of those who file declarations is also ensured:
In recent years, the circle of persons filing declarations has expanded to include, in addition to high-ranking officials, also persons holding public positions and certain groups of public servants. Until 2017, 800 high-ranking officials submitted property and income declarations, now 3200 people.
According to the law, declarants submit data on:
a) immovable property -land plots, parts of the subsoil, isolated water bodies, forests, perennial seedlings, buildings and structures, other property assigned to the Land, that is, those objects that cannot be separated from the land without causing disproportionate damage to the purpose of this property
b) self-propelled machines or mechanisms, air and water vehicles
c) monetary funds (money of the Republic of Armenia, currency)
d) securities (bond, check, promissory note, stock, bank certificate (bank book, bank certificate) and other securities) and other investments (shares, units, etc.)
e) cultural values and antiques:
The registration of a person who is part of a family has also been introduced into the declaration system. This means that the annual declaration must also be submitted by the spouse of the declarant's official, a minor child, a person under the guardianship or guardianship of a person, as well as any person living together with him:
In order to verify the authenticity and completeness of the declared data, the body verifying the declaration receives data from various structures, including credit bureaus and the Central Depository.
Administrative offenses and crimes related to declaration, measures of responsibility for them are established and regulated by law.
Do you want to learn more about the rules for filling out the declaration of property and income, to include the goods imported by you and undergoing customs procedures there? Contact your customs broker.
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