Armenia has set a new record in terms of income tax collection and job creation, State Revenue Committee

|

USD

391.57

EUR

426.77

RUB

4.6962

GEL

141.11

Economy

22.07.2021, 14:46

Armenia has set a new record in terms of income tax collection and job creation, head of the State Revenue Committee Edward Hovhannisyan said during a government meeting on Thursday.

Armenia has set a new record in terms of income tax collection and job creation, State Revenue Committee

YEREVAN, July 22. /ARKA/. Armenia has set a new record in terms of income tax collection and job creation, head of the State Revenue Committee Edward Hovhannisyan said during a government meeting on Thursday.

According to him, in June the number of registered taxable jobs amounted to 643,000. He described the figure as ‘unprecedented’ saying their number was by 34,000 more than in 2020, by 38,000 more than in 2019 and by 80,000 more than in 2018.

"It is symbolic that the amount of taxes levied from these jobs at the end of June 20021 amounted to about 139 billion drams, by 19 billion drams more than in 2020, by 26 billion drams more than in 2019, and by 40 billion drams more than in 2018," Hovhannisyan said.

He noted that for the first time 30 billion drams were collected in June 2021 as individual income tax, significantly more than in previous years.

According to him, the average monthly wages have also grown to 216,000 drams from 198,000 drams in June 2020, 187,000 in June 2019 and 177,000 drams in June 2018.

"The individual income taxes collected over the first 6 months of 2021 are by 28.5 billion drams more than in the same time span of 2018. This was achieved by changing the principle of income tax collection," acting Prime Minister Nikol Pashinyan said. ($1 - 487.57 drams). --0--

Armenian parliamentary committee approves double taxation agreement with Hong Kong

The Parliamentary Committee on Economic Affairs gave a positive conclusion regarding the ratification of the agreement on the elimination of double taxation of income between Armenia and Hong Kong during a meeting on Wednesday.

19.03.2025 13:00

Armenia is ready to deepen trade and economic relations with EU in all areas – Minister

Armenia is ready to continue and deepen its trade and economic relations with the EU in all possible areas, said Economy Minister Gevorg Papoyan on March 18 during a meeting with Meglena Kuneva, a lecturer at the Diplomatic Academy of the European External Action Service, former chief negotiator and EU commissioner, and former Deputy Prime Minister of Bulgaria.

19.03.2025 09:49

Cadastre Committee to create passports for about 10,000 geographical names of Armenia

The Armenian Cadastre Committee will create 'passports' for about 10,000 geographical names and update the data in 2025, the head of the Committee Suren Tovmasyan said.

18.03.2025 18:14

"A busy year awaits us": Martin Galstyan on the impact of China's economy and trade wars on Armenia

The head of the Armenian Central Bank Martin Galstyan responded to a question whether the Stimulus Package, adopted by China and, in particular, the rise in copper prices, will affect Armenia's economy.

18.03.2025 17:56

Central Bank of Armenia left refinancing rate unchanged at 6.75%

At its meeting on March 18, the Board of the Central Bank of Armenia kept the refinancing rate unchanged at 6.75%.

18.03.2025 12:18

Armenia aims to connect itself with both EEU, EU, Arab, Asian and other markets by "numerous threads" - Papoyan

Armenia seeks to connect its economy with the Eurasian Economic Union (EEU) market as well as the EU, Arab, Asian and other markets with as many threads as possible, Minister of Economy Gevorg Papoyan said.

17.03.2025 17:16

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00