Armenian SRC reports lowest government tax refund amount
03.08.2020,
09:48
Armenia's State Revenue Committee (SRC) said the overall amount of government's tax refunds to private companies was less than 70 billion drams on August 1, 2020, having slashed to 69.4 billion drams.
YEREVAN, August 3. /ARKA/. Armenia's State Revenue Committee (SRC) said the overall amount of government's tax refunds to private companies was less than 70 billion drams on August 1, 2020, having slashed to 69.4 billion drams. According to a SRC press release, the figure was the lowest over the last decades.
"Moreover, the amount of real overpayments (the amount paid in excess of the tax liabilities calculated according to the established procedure), which for many years was the main cause of businesses' dissatisfaction, stands at only 6.6 billion drams," the SRC noted.
The remaining 62.8 billion drams are VAT and excise tax debit amounts. According to the SRC, by January 1, 2020, the amount of government's refund to private companies stood at 79.6 billion drams, down from 169.2 billion drams on January 1, 2019 and 274.1 billion drams on January 1, 2018. ($1 - 485.33 drams) - 0--
"Moreover, the amount of real overpayments (the amount paid in excess of the tax liabilities calculated according to the established procedure), which for many years was the main cause of businesses' dissatisfaction, stands at only 6.6 billion drams," the SRC noted.
The remaining 62.8 billion drams are VAT and excise tax debit amounts. According to the SRC, by January 1, 2020, the amount of government's refund to private companies stood at 79.6 billion drams, down from 169.2 billion drams on January 1, 2019 and 274.1 billion drams on January 1, 2018. ($1 - 485.33 drams) - 0--
