YEREVAN, November 4. / ARKA /. Armenia’s ratio of taxes to GDP in late 2014 will grow to 23.6 %, Armen Alaverdyan, deputy head of the State Revenue Committee (SRC), told a parliament discussion today on next year’s draft budget. He said the figure is close to international standard.
Under the 2013 state budget, the share of taxes to GDP is projected at 21.88 % against 17.36% in 2012.
"Five -six years ago we dreamed of bringing the ratio of taxes to GDP to 16%. In five years, we have managed to increase this figure to 23.6 % and we anticipate achieving this by the end of 2014, “he said.
According to Alaverdyan, the ratio is a clear evidence of reduction of the shadow economy.
"Of course, this does not mean we have defeated the shadow economy. Now we will talk about the ‘shadow" economy by using more specific figures and naming specific areas and organizations," he said, adding that the fight against the shadow economy is an important issue in the context of ensuring the economic security of Armenia .
Armen Alaverdyan said that next year the agency intends to move from the rigid methods of administration to more moderate. Alaverdyan said that 52 % of tax revenues are secured by 480 largest taxpayers.
The government plans to collect next year 1. 134 trillion drams in revenue and spend 1.244 trillion drams. The projected deficit is 110 billion drams. The GDP is projected to grow by 5.2 % and the 12-month inflation rate is planned at 4 % (± 1.5%). ($1 – 405.26 drams) -0-