YEREVAN, December 28. /ARKA/. Starting from January 1, 2022, the process of income tax refund for  interest paid on mortgage loans will be carried out by a new remote scheme, according to a new decision of the Armenian government, the press service of VTB Bank Armenia reported.

At the end of each quarter, customers do not need to go to the bank to get a certificate/statement of interest paid on the mortgage. Instead, customers can simply use one of the proposed remote channels to send a request/ consent to the bank, which  VTB Bank (Armenia) will use for  automatic transmission of the necessary information to the authorized body on a quarterly basis.

Customers can give their consent to the data transfer through one of the following remote channels:

- by filling out a short application on the bank's official website in the "Online Applications" section they need to go to the "Order Reference" subsection, then – select in the "Type of Reference" window t the "Consent to Transfer Mortgage % Data to ACRA" option;

- for users of Mobile/Internet Bank applications it is necessary to go to the subsection "Feedback to the Bank" in the section "Bank Contacts", then select the option "Consent to transfer the information on the mortgage interest to ACRA" and indicate the number of the mortgage agreement.

Within one business day the bank will send a response letter to the client's email, confirming the fact that the consent has been received.

Note: Apart from the above mentioned process, it is obligatory for the customer to send also the application according to the official publication of the State Revenue Committee of Armenia․ While giving consent to the bank, customers must register in the "Personal Cabinet Information Portal" system and send to the State Revenue Committee the electronic statement "On Income Tax Refund for the Interest Paid on Mortgage Loan" in prescribed format, stating the amount of interest paid during the reporting quarter.

More information about the new process customers can get at the branches of VTB Bank (Armenia) or by calling  87-87.

The activity of VTB Bank (Armenia) is regulated by the Central Bank of Armenia. -0-