Republic of Armenia:Technical Assistance Report on Personal Income Tax: Policy Review and Introduction of a Universal Declaration

Author: International Monetary Fund. Fiscal Affairs Dept.

Republic of Armenia: Technical Assistance Report on Personal Income Tax: Policy Review and Introduction of a Universal Declaration

Volume/Issue: Volume 2023 Issue 060

Publication date: January 2023

ISBN: 9798400232565

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Topics covered in this book

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Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , Personal income tax universal income declaration tax incentives , mortgage interest tax credit , microenterprise regime , IMF Fiscal Affairs Department , taxpayer register , authorities of the Republic of Armenia , Tax allowances , Personal income tax , Income , Mortgages , Interest tax , Central Asia

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Summary

This report reviews the Personal Income Tax in Republic of Armenia and identifies policy and administration options to support the introduction of a Universal PIT Declaration, as well as enhance the PIT’s revenue mobilization and equity. We discuss improvements of the PIT’s tax incentives, with a focus on the mortgage interest tax credit, and opportunities to make the PIT more progressive while preserving its revenue mobilization performance. Best practice administrative solutions are presented to facilitate the introduction of the Universal Declaration, including prefilling of information and organizational issues.