Shadow economy in Armenia is still high: President
17.07.2013,
11:13
The portion of shadow economy in Armenia is still high, President Serzh Sargsyan said at the meeting with the State Revenue Committee, the president’s press office reported.
YEREVAN, July 17./ARKA/. The portion of shadow economy in Armenia is still high, President Serzh Sargsyan said at the meeting with the State Revenue Committee, the president’s press office reported.
“We know that despite our efforts to reduce the shadow economy, it is still high compared with that in developed countries,” he said following the opening of the new building for one of Yerevan Tax Inspections.
Sargsyan noted even though budget revenues have increased twice over the recent 4-5 years, it is still not enough.
“First of all, we don’t have other revenues and other opportunities to spend money in order to keep army, pay salaries to teachers and doctors. We should constantly increase tax revenues,” the president said.
According to Sargsyan, tax and customs bodies should first of all support and foster competition through creating equal conditions.
“If one company works in the shadow, another –in the tax field, the conditions for their development are not equal.”
President expressed his hopes that during the next meeting the Committee will report on a successful process of solving a number of such issues.—0-
