Armenian authorities racing against time to adopt new tax code before WB directorial board session
30.09.2016,
11:16
Armenia’s government is racing against time to adopt a new tax code before the World Bank directorial board’s session in November, Haykakan Zhamanak (Armneian Time) reports referring to its sources.
YEREVAN, September 30. /ARKA/. Armenia’s government is racing against time to adopt a new tax code before the World Bank directorial board’s session in November, Haykakan Zhamanak (Armneian Time) reports referring to its sources.
According to the newspaper, at this very session the World Bank will decided whether to continue lending financial resources to Armenia or not.
“It is known that international organizations has made annual increase of tax revenue by 60-70 billion a condition for lending money to Armenia, and the Armenian authorities are trying to comply with this requirement by adopting the new tax code – otherwise, organizations will extend no loans to the country,” the authors of the publication say.
Vakhtang Mirumyan, the chairman of the State Revenue Committee, however, told the newspaper that there was no such a requirement.
“However, we ourselves already think that we must build up revenue, and that this can be done by combating shady dealings,” he added.
Mirumyan is also quoted by Haykakan Zhamanak as saying that after adoption of the new tax code in 2017, tobacco products and spirits will add AMD 8.1 billion to the budget in excise tax receipts, and in 2018, petrol and liquid gas will bring another AMD 17 billion to the budget as excise tax payments.
The Armenian National Assembly has passed the new tax code at two readings and is expected to give its final approval to the code before the end of this year. ($1 – AMD 474.57). --0---
According to the newspaper, at this very session the World Bank will decided whether to continue lending financial resources to Armenia or not.
“It is known that international organizations has made annual increase of tax revenue by 60-70 billion a condition for lending money to Armenia, and the Armenian authorities are trying to comply with this requirement by adopting the new tax code – otherwise, organizations will extend no loans to the country,” the authors of the publication say.
Vakhtang Mirumyan, the chairman of the State Revenue Committee, however, told the newspaper that there was no such a requirement.
“However, we ourselves already think that we must build up revenue, and that this can be done by combating shady dealings,” he added.
Mirumyan is also quoted by Haykakan Zhamanak as saying that after adoption of the new tax code in 2017, tobacco products and spirits will add AMD 8.1 billion to the budget in excise tax receipts, and in 2018, petrol and liquid gas will bring another AMD 17 billion to the budget as excise tax payments.
The Armenian National Assembly has passed the new tax code at two readings and is expected to give its final approval to the code before the end of this year. ($1 – AMD 474.57). --0---
