Armenia's tax authorities collected 332.9 billion drams in taxes in Q 1, 2021, by 27 billion drams more than initially projected

YEREVAN, April 27. /ARKA/. Armenia's tax authorities collected a total of 332.9 billion drams in various taxes in the first quarter of 2021, by 27 billion drams more than initially projected, the chairman of the State Revenue Committee (SRC) Edward Hovhannisyan said on Tuesday during a meeting of the parliamentary committee on financial and budgetary issues.

At the same time, he noted that compared to the first quarter of 2020, the total tax revenues were down by 16.1 billion drams.

In his words, the analysis of this indicator suggests that only the change in the prepayment mechanism for income tax accounted for about 10 billion drams additionally.

Besides, in the first quarter of 2021, compared to 2020, economic entities were refunded almost 3 billion drams more than in 2020 t.

He also noted that the impact of the coronavirus crisis still continues, due to which some types of business activity have not yet recovered, such as tourism, hotels, transport and others. As a result, the proceeds from state duties decreased by 2.8 billion drams.

“The decline in economic activity affected the collection of tax revenues, but we are trying to make every effort to improve the level of tax discipline and compliance with the payment of taxes for the full implementation of the plans,” Hovhannisyan said.

He also noted that these indicators are quite high, especially given the fact that in the first quarter of 2020 the country registered economic growth of 4%, while in the first quarter of 2021 - a decline of 2% ($1 - 520.46 drams) ... –0--