License fee payments to Armenia’s budget 27 times higher in January than last year

YEREVAN, March 5. /ARKA/. License fee payments to Armenia’s state budget grew by over 27 times to 559.1mln drams in January 2013, compared to the same period of the year before, head of budget reporting and analyses of the ministry of finance Gayane Zargaryan told journalists Tuesday.

The increase is attributed to extended list of activities subject to licensing, Zargaryan said.

In total, tax receipts and state dues amounted to 71.3bln drams in January, an increase of 28.5% or 15.8bln drams against the year before.

In particular, receipts from the turnover tax and the unified income tax (both introduced as from January 1, 2013) were 310.8mln drams and 3.6bln drams respectively, she said.

VAT payments to the budget were 33.8bln drams in January, an increase of 9.2bln drams compared with the year before. Excise tax paid to budget totaled 5bln drams (increase of 302mln drams), including 1.8bln drams taxed against imports and 3.2bln drams against for Armenia-manufactured products that are subject to excise tax.

Profit tax receipts rose by 1.3bln drams to 5.6bln drams in the reporting month, as compared to January 2012.

Income tax and social payments amounted to 5.6bln drams and 8.3bln drams respectively.

Customs duties were 3.7bln drams, an increase of 2.4bln drams against the year before, state duties were 1.9bln drams (increase of 207.5mln drams), according to Zargaryan.

Fixed payments totaled 181.8mln drams (reduction of 747.8%); other tax collection amounted to 1.2bln drams (206.5% reduction).

Under the 2013 state budget of December 5, receipts were 1trln 32.7bln drams, expenditures 1trln 152.5bln drams, tax and state due receipts 993.08bln drams (117.7bln drams higher compared to the 2012 projection) and deficit was 119.7bln drams or 2.6% of the GDP.

The budget deficit financing is planned at 119.7bln drams from net receipts of both internal and external sources – 55.1bln and 64.6bln drams respectively.

The 12-month inflation is expected at 4±1.5%; the GDP growth is at 6.2%. ($1=410.67drams).  -0-