Armenian tax authorities overfulfil first half tax collection target by 52.5 billion drams

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Economy

01.07.2021, 13:22

In the first half of 2021, Armenian tax authorities have collected a total of 750.2 billion drams in various taxes, by 52.5 billion drams more than projected, the chairman of the State Revenue Committee (SRC) Edward Hovhannisyan said during a government meeting on Thursday.

Armenian tax authorities overfulfil first half tax collection target by 52.5 billion drams

YEREVAN, July 1. /ARKA/. In the first half of 2021, Armenian tax authorities have collected a total of 750.2 billion drams in various taxes, by 52.5 billion drams more than projected, the chairman of the State Revenue Committee (SRC) Edward Hovhannisyan said during a government meeting on Thursday.

According to him, the growth was recorded despite the fact that the government had refunded about 84 billion drams in VAT and other taxes, up from 65 billion drams that had been refunded in the frist half of 2020 and 52 billion drams in 2019.

According to him, the growth was partly secured by a legislative change that raised the mandatory monthly contributions to the Military Insurance Fund by all working citizens that stood at 9.2 billion drams.

He added that in the first six months of 2021, the number of business transactions increased by 24 million when compared to the same time span in 2020.

For his part, acting Minister of Finance Atom Janjughazyan said: "Now we will analyze these figures, taking into account the revision of the economic growth and the possible impact of tax revenues on the growth. According to our estimates, taking into account the economic growth of 6%, additional tax revenues may range from 43 to 77 billion drams.' ($1 - 495.86 drams). --0--

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