Armenia’s tax revenue projected to total AMD 1 trillion 135 billion in 2017
08.11.2016,
12:07
Tax revenue in Armenia’s government budget are projected to total AMD 1 trillion 135 billion and make up 21% of the country’s GDP in 2017 – 0.3% more than the 2016 indicators, Vakhtang Mirumyan, deputy head of Armenia’s State Revenue Committee, said Monday while discussing with parliamentary commissions the draft budget for 2017.
YEREVAN, November 8. /ARKA/. Tax revenue in Armenia’s government budget are projected to total AMD 1 trillion 135 billion and make up 21% of the country’s GDP in 2017 – 0.3% more than the 2016 indicators, Vakhtang Mirumyan, deputy head of Armenia’s State Revenue Committee, said Monday while discussing with parliamentary commissions the draft budget for 2017.
“It seems at the first glance that we don’t speak about any significant growth, but out expectations are understandable amid the current economic developments – macroeconomic processes that affect tax collection,” he said.
The committee expects that in 2016 tax revenue will be AMD 60 billion less than projected because of impacts from economic processes and legislative changes aimed at improvement of business environment.
VAT receipts reduced by AMD 6.2 billion in connection with new rules for import of cars within the Eurasian Economic Union.
Excise taxes are the only source that will have a positive effect on tax revenue.
Tax collection, he said, was also affected by adjournments on investment programs. In particular, the government provided AMD 4.3 billion more adjournments in 2016 than in 2015.
The deputy head of the committee is also convinced that things can be improved also by reducing shady dealings and improving legislative administration.
In 2017, tax revenue is planned to be increased by AMD 24.2 billion by reducing shadow turnover and applying solely administrative instruments – particularly, improvement of the quality of inspections and enhancement of application of electronic services. ($1 – AMD 477.86). ---0---
“It seems at the first glance that we don’t speak about any significant growth, but out expectations are understandable amid the current economic developments – macroeconomic processes that affect tax collection,” he said.
The committee expects that in 2016 tax revenue will be AMD 60 billion less than projected because of impacts from economic processes and legislative changes aimed at improvement of business environment.
VAT receipts reduced by AMD 6.2 billion in connection with new rules for import of cars within the Eurasian Economic Union.
Excise taxes are the only source that will have a positive effect on tax revenue.
Tax collection, he said, was also affected by adjournments on investment programs. In particular, the government provided AMD 4.3 billion more adjournments in 2016 than in 2015.
The deputy head of the committee is also convinced that things can be improved also by reducing shady dealings and improving legislative administration.
In 2017, tax revenue is planned to be increased by AMD 24.2 billion by reducing shadow turnover and applying solely administrative instruments – particularly, improvement of the quality of inspections and enhancement of application of electronic services. ($1 – AMD 477.86). ---0---
