Friday, May 6 2011 13:02

Chairman of State Revenue Committee intends to considerably increase collection of direct taxes from processing enterprises


ArmInfo. Chairman of the Armenian State Revenue Committee Gagik Khachatryan has come out for replacement of the total tax inspections with tax analytics. Upon completion of a consultation with the heads of processing enterprises, he pointed out that there are two main problems connected with taxation of this sphere: the very low collection of direct taxes and the problem of document turnover.

According to him, the analytics shows that the sales of the enterprises processing agricultural products are much lower than the production output. The direct taxes make up only 1% of the production output. "We will increase the direct taxes in this sphere", he said. In the fiscal charges the direct taxes make up about 25% in other spheres, whereas in the sphere of agricultural processing they make up 13% of the total tax deduction. The head of the Committee expressed his discontent with the fact that though the turnover in this sphere has annually grown by 35% to 65 billion AMD, the level of tax deduction has actually remained the same and amounts to 4.2-5 billion AMD per year.

At the same time, Khachatryan stressed the necessity to regulate the document turnover of these enterprises. "This is not an easy issue, as the business of these enterprises is directly connected with the intractable agriculture", he stressed.

When speaking of the priority of development of agribusiness in Armenia, the head o the Committee recalled that the government has taken a number of important steps to stimulate it. Fertilizers, toxic chemicals, agricultural equipment have been exempted from the value-added tax on the border when being imported. Khachatryan expressed confidence that the situation in the sphere of agribusiness will shortly change for the better.

To recall, today Armenian President Serzh Sargsyan held a consultation with the heads of 20 companies of the agriculture processing sphere. The consultation covered issues related to tax changes and formation of the strategy of further development of the given sphere.

According to the Ranking of the largest processing enterprises of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), by the latest data for 2009, about half of all the companies operated at a loss. According to financial reports, such large companies completed the year at a loss as "Cigaronne", "Euroterm", "MMM", "Elite Shant", "Echmiadzin Cannery", "Coca-Cola", "VEDI-Alco", "Kotayk Brewery". High profit was demonstrated by "Yerevan Brandy Company", "International Masis Tabak", "Masis Tobacco", "Grand Candy", "Grand Tobacco".
POST A COMMENT
Input digits     


News
AraratBank Donates AMD 8 million to the Reconstruction of the Spandaryan CanalAraratBank Donates AMD 8 million to the Reconstruction of the Spandaryan Canal
Growth of economic activity in Armenia is due to unstable factors -  Luys Foundation Growth of economic activity in Armenia is due to unstable factors -  Luys Foundation 
New Education Platforms through Cooperation between AraratBank and Aren Mehrabyan FoundationNew Education Platforms through Cooperation between AraratBank and Aren Mehrabyan Foundation
RA CB forecasts GDP growth of 6.3-4.1% in 2026RA CB forecasts GDP growth of 6.3-4.1% in 2026
RA State Revcnue Committee is supporting businesses in properly  organizing their operation - premier RA State Revcnue Committee is supporting businesses in properly  organizing their operation - premier 
Armenian economy minister on country`s export and import plans with  Azerbaijan Armenian economy minister on country`s export and import plans with  Azerbaijan 
2% cashback for all ArCa cardholders not to apply to cashless  purchases from foreign businesses, says Deputy Finance Minister2% cashback for all ArCa cardholders not to apply to cashless  purchases from foreign businesses, says Deputy Finance Minister
Armenia has for many years been importing oil products from Turkiye -  expert Armenia has for many years been importing oil products from Turkiye -  expert 
RA health minister ready for joint programs with EAEU partners RA health minister ready for joint programs with EAEU partners 
Roundtable discussion `Kazakhstan-Armenia: Dialogue in Tourism` held  in Yerevan Roundtable discussion `Kazakhstan-Armenia: Dialogue in Tourism` held  in Yerevan
Armenia hopes for Russia to restore railway connection with  Nakhchivan, Azerbaijan and Turkiye as soon as possibleArmenia hopes for Russia to restore railway connection with  Nakhchivan, Azerbaijan and Turkiye as soon as possible
Government ready to assist business contacts between Armenia,  Azerbaijan - Armenian premierGovernment ready to assist business contacts between Armenia,  Azerbaijan - Armenian premier
Armenian premier on forecast of GDP growth in 2026Armenian premier on forecast of GDP growth in 2026
Index of prices for industrial prices 103.6% in Armenia in Jan-Nov  2025Index of prices for industrial prices 103.6% in Armenia in Jan-Nov  2025
Armenian government approves measures and procedures for cashback on  non-cash transactions using ArCa NPS cardsArmenian government approves measures and procedures for cashback on  non-cash transactions using ArCa NPS cards
AraratBank Receives Visa Trusted Partnership Award 2025AraratBank Receives Visa Trusted Partnership Award 2025
Exponential growth in economic activity in Armenia on New Year eve Exponential growth in economic activity in Armenia on New Year eve 
Armenia to have Kap reservoir and new village - premier Armenia to have Kap reservoir and new village - premier 
RA Ministry of High-Tech Industry to expand cooperation with  Eleveight AI company RA Ministry of High-Tech Industry to expand cooperation with  Eleveight AI company 
Armenian government extends ban on export of some agricultural  products Armenian government extends ban on export of some agricultural  products 
Ban on export of whitefish caviar to be extended for six months Ban on export of whitefish caviar to be extended for six months 
Armenia and Israel discuss prospects for expanding economic  cooperationArmenia and Israel discuss prospects for expanding economic  cooperation
2% cashback to be refunded to ArCa local cards in Armenia from 20262% cashback to be refunded to ArCa local cards in Armenia from 2026
IDBank Employees’ New Year Gifts for “Hayordi” Foundation beneficiary childrenIDBank Employees’ New Year Gifts for “Hayordi” Foundation beneficiary children
Armenian, German taxation systems discussed at RA State Revenue  CommitteeArmenian, German taxation systems discussed at RA State Revenue  Committee
Armenian economy minister comments on Azerbaijani petrol price in  Armenia Armenian economy minister comments on Azerbaijani petrol price in  Armenia 
RA Ministry of Territorial Administration and Infrastructure seeking  candidate for position of acting general director of Construction of  a New Nuclear Power Plant company RA Ministry of Territorial Administration and Infrastructure seeking  candidate for position of acting general director of Construction of  a New Nuclear Power Plant company 
WB approves US $250 million in financing for Housing and Mortgage  Market Improvement Project in ArmeniaWB approves US $250 million in financing for Housing and Mortgage  Market Improvement Project in Armenia
EEC Board approves topic on consumer rights protection in EAEU  countriesEEC Board approves topic on consumer rights protection in EAEU  countries
Russia is considering supplying fertilizer to Armenia via Azerbaijan  - vice-premierRussia is considering supplying fertilizer to Armenia via Azerbaijan  - vice-premier
FLYONE ARMENIA launches Yerevan-Amsterdam-Yerevan flightsFLYONE ARMENIA launches Yerevan-Amsterdam-Yerevan flights
Kaps reservoir construction suspended Kaps reservoir construction suspended 
Yerevan`s 2026 budget estimate ready Yerevan`s 2026 budget estimate ready 
Media: Grain from Volgograd to be delivered to Armenia via AzerbaijanMedia: Grain from Volgograd to be delivered to Armenia via Azerbaijan
MSMEs share in Armenia`s GDP increased from 31% to 34% in one year MSMEs share in Armenia`s GDP increased from 31% to 34% in one year 
WizzAir to launch direct flights between Yerevan and London starting  in summer 2026WizzAir to launch direct flights between Yerevan and London starting  in summer 2026
Scholarship for 100 Artsakh Students as Part of IDBank’s “Side by Side” ProgramScholarship for 100 Artsakh Students as Part of IDBank’s “Side by Side” Program
EAEU leaders agree on approaches to developing trade with their key  partners in medium termEAEU leaders agree on approaches to developing trade with their key  partners in medium term
Kılıç: Turkish Airlines will begin daily flights on the Istanbul-Yerevan-Istanbul route from March 11, 2026.Kılıç: Turkish Airlines will begin daily flights on the Istanbul-Yerevan-Istanbul route from March 11, 2026.
Armenia proposes Egypt to consider opening  TUMO centerArmenia proposes Egypt to consider opening  TUMO center
Mining remains a social pillar of Armenia`s regions - studyMining remains a social pillar of Armenia`s regions - study
Armenia, Egypt discuss prospects for developing cooperation in  agricultureArmenia, Egypt discuss prospects for developing cooperation in  agriculture
The results of the second Junius financial literacy competition have been summarizedThe results of the second Junius financial literacy competition have been summarized
 From idea to implementation: Ameriabank Presents the Programs Implemented under My Ameria, My Armenia CSR Campaign From idea to implementation: Ameriabank Presents the Programs Implemented under My Ameria, My Armenia CSR Campaign
Armenia`s Ambassador to the United States attends USACC roundtable on  TRIPPArmenia`s Ambassador to the United States attends USACC roundtable on  TRIPP
Expert casts doubt on origin of recent Azerbaijani gasoline import to  ArmeniaExpert casts doubt on origin of recent Azerbaijani gasoline import to  Armenia
Pashinyan one again thanked Aliyev at EAEU Supreme Council meetingPashinyan one again thanked Aliyev at EAEU Supreme Council meeting
First robotic surgery performed in ArmeniaFirst robotic surgery performed in Armenia
World Bank remains reliable strategic partner in Armenia`s  infrastructure development, says MinisterWorld Bank remains reliable strategic partner in Armenia`s  infrastructure development, says Minister
In Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactionsIn Armenia`s interbank foreign exchange market from December 15 to  19, 2025, there was a decrease in dollar and ruble transactions, with  an increase in euro transactions
Train loaded with  SOCAR petroleum products arrives in ArmeniaTrain loaded with  SOCAR petroleum products arrives in Armenia
RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs RA Finance Minister, French Ambassador and AFD representative discuss  budget support programs 
RA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian borderRA Economy Minister: 22 railcars of Azerbaijani petroleum crossing  Armenian-Georgian border
Azerbaijani fuel import to Armenia  indicates  lack of economic  policy: David AnanyanAzerbaijani fuel import to Armenia  indicates  lack of economic  policy: David Ananyan
Fly Kish starts operating flights on route Tehran-Yerevan-Tehran Fly Kish starts operating flights on route Tehran-Yerevan-Tehran 
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Prime Minister: Train carrying petroleum products  heading from  Azerbaijan to ArmeniaPrime Minister: Train carrying petroleum products  heading from  Azerbaijan to Armenia
RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility RA Prime Minister confirms that Hungary has lifted its veto on the  decision to allocate 20 million euros to Armenia within the framework  of  European Peace Facility
Armenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  borderArmenia  approached its Russian partners with proposal to discuss   possibility of constructing railway line from Yeraskh to  Nakhichevan  border
RA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. PetersburgRA Prime Minister of Armenia to attend  Supreme Eurasian Economic  Council Meeting  in St. Petersburg
Read more
Exchange rates
29.12.2025
RUB4.910.01
USD381.46-0.01
EUR448.71-0.43
GBP514.860.30
CAD278.58-0.23
JPY24.400.01
CNY54.450.01
CHF482.74-0.38


Experts
Armenia has for many years been importing oil products from Turkiye -  expert Armenia has for many years been importing oil products from Turkiye -  expert 
Mining remains a social pillar of Armenia`s regions - studyMining remains a social pillar of Armenia`s regions - study
Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028Analyst: EDB sees a possible slowdown in economic growth outside the country as the primary risk for the Armenian economy in 2026-2028
Read more

Commented
ATI.SU: Demand for international cargo transportation 30% up in  ArmeniaATI.SU: Demand for international cargo transportation 30% up in  Armenia
Civil Contract nominates Armen Ktoyan for  Central Bank Board Member  positionCivil Contract nominates Armen Ktoyan for  Central Bank Board Member  position
Armenia, France considering prospects for expanding technological  cooperation  Armenia, France considering prospects for expanding technological  cooperation  

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2