YEREVAN, October 28. / ARKA /. The Armenian government plans to collect 1.134 trillion drams in 2014 in revenue, Prime Minister Tigran Sargsyan said Monday at a parliament discussion on the next year’s draft budget.
He said the government spending is planned to be 1.244 trillion drams. The resulting budget deficit is 110 billion drams.
Sargsyan said the 2014 budget does not call, for the first time, for an increase in the tax administration and the tax-to-GDP ratio will remain the same as in 2013.
"The peculiarity of the 2014 budget is that we are not going to increase the tax burden. The ratio of taxes to GDP used to grow by 0.3 and 0.4 percentage points each year. We decided not to increase this ratio in 2014 to avoid excessive pressure on the business. Now we are going to focus on reducing the number of tax audits and the identification of risk areas,”he said.
The prime minister said the new budget calls for an 11 billion drams increase in revenue collection.
The prime minister also singled out the falling amount of private investment, saying to stop this trend it is necessary to improve the business climate and achieve a proper distribution of the tax burden.-0-