ArmInfo. Armenian authorities want to expand the social credit system. Finance Minister Vahe Hovhannisyan announced this at a meeting of the National Assembly committees.
According to him, legislative amendments are being prepared to expand the targeted tax deductions, which allow citizens filing tax returns to reclaim a portion of their income tax for personal expenses (education, sports, and healthcare), to include representatives of the media and public organizations. Criteria will be developed to establish the procedure for income tax refunds for media outlets and NGOs. This change is planned to take effect on January 1, 2027.
In parallel with the implementation of the universal income tax return system for individuals, Armenia is also implementing a system of social payments (so-called "social credits"). This system provides compensation for citizens' expenses in two major areas-education and healthcare-through the return of a portion of their income tax. During the initial phase of the system's implementation, an education component was planned that would cover all levels of education-preschool, school, university, and postgraduate institutions-as well as healthcare-where social expenses would include health insurance coverage. The refundable funds are capped at 100,000 drams per year for education and 50,000 drams per year for healthcare, with the ultimate maximum being 100,000 drams.
