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Compared to 2017, in 2018, the state returned AMD 2.4 billion from income tax to citizens, and already in 2018 - AMD 4.6 billion, My Step ruling bloc MP Tsovinar Vardanyan said on Tuesday, commenting on the decision to block the draft parliament submitted by the Bright Armenia party, aimed at lifting restrictions in the Tax Code that do not allow for large families to compensate their mortgage payments at the expense of income tax on their salaries.

Vardanyan noted that this year this indicator will reach AMD 8 billion.

According to the Bright Armenia party MPs, interest rates on mortgage loans cannot be compensated if the cost of the house exceeds AMD 55 million.

Standing Committee on Economic Affairs Babken Tunyan noted that there can be no talk of social injustice.

“Our committee even had the opinion that the existing threshold should be lowered, because if we endlessly return the income tax, there will soon be a shortage of funds in the state budget of Armenia for the subsequent return of their money to citizens,” he said.

At the same time, he noted that if a citizen intended to buy a house worth AMD 55 million ($ 115 thousand), then he would have to allocate from AMD 500 to 600 thousand every month to repay the mortgage.

“How much should they earn?” We are talking about people who earn at least AMD 1 million. Do you think they need the help of the state?” Tunyan said.

“Now it turns out that they contradict their own initiative, since houses with such prices can only be found in Yerevan,” he added.

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