Armenian president instructs State Revenue Committee to ensure AMD 15 billion more tax revenue than budget projection

YEREVAN, January 18. /ARKA/. Armenian President Serzh Sargsyan instructed Head of the State Revenue Committee Gagik Khachatryan to ensure the tax revenue exceeding the amount planned in the 2013 government budget by AMD 15 billion. 

In the 2013 budget, tax and state duty revenue is projected at AMD 993.08 billion (by AMD 118.7 billion more than in the 2012 budget).  

“I hope the committee will cope with this task,” he said. “I am completely satisfied with the job done, and this should inspire others.”

Nevertheless, Sargsyan said, there are many problems in the system and there is still plenty to do here.  

The president said many were skeptical about the previous year’s tax revenue and was opposed to the idea of raising the benchmark projected in the 

2012 budget by AMD 101 billion. However, the committee has successfully fulfilled the task. 

He said that the implemented tax reforms had upgraded Armenia’s ranks in international ratings. 

“I am convince that time will come when the committee officers will no longer be considered as enemies,” he said. “This hostile atmosphere starts melting away, and this is very important.”

In 2012, the government intended to intensify tax inflow by improving tax administration and lessening shadow dealing, while now it plans to enlarge tax revenue by using other instruments. About AMD 31 billion of AMD 118.7 billion of extra tax revenue will come as a result of legislative changes, and AMD 27.7 billion through administrative mechanisms.  

Besides, the enforcement of the effect from the new income tax law enforced on January 1, 2013 and from the raised floor wage has been taken into account in tax revenue calculations. 

AMD 934.3 billion is projected given the previous year’s result and macroeconomic processes. 

In the 2013 government budget, tax revenue is projected at 21.88% of GDP against the 20.73% projected in the 2012 budget. ($1 – AMD 406.30). -0-