Tuesday, January 23 2018 18:42
Naira Badalian

Buying gasoline - privilege of the rich or raising the base rate of excise taxes on fuel will not lead to an increase in the costs of citizens - the Armenian State Revenue Committee

Buying gasoline - privilege of the rich or raising the base rate of  excise taxes on fuel will not lead to an increase in the costs of  citizens - the Armenian State Revenue Committee

ArmInfo. Deputy Chairman of the  State Revenue Committee of Armenia Vakhtang Mirumyan considers  unjustified statements that raising the base rate of excise taxes on  gasoline, diesel fuel and liquefied gas can lead to an increase in  the tax burden for citizens and economic entities of the country.

He  said this on January 23 at a hearing in the parliament on the "Causes  of rising prices for certain types of goods and opportunities to  mitigate the consequences of this."

Vakhtang Mirumyan recalled that from January 1, 2018 the new Tax Code  came into force, within which the base rate of excise on fuel was  increased. This, according to Mirumyan, was almost the only tax  change that led to a certain increase in the tax burden. In parallel,  the TC envisaged more than two dozen proposals aimed at improving the  business environment and mitigating taxation conditions. "In this  case, excise tax was considered, in fact, the only type of tax that  could compensate for losses of state treasury, expected by the  results of measures to improve the business climate," - said the  deputy head of the SRC. The main question asked by the Committee is  whether raising the excise tax rate on fuel can have a chain effect  and lead to an increase in prices for certain types of goods. So,  since January 2018, excise tax on gasoline and VAT (per 1 ton) has  been increased by 15 thousand drams, that is, 15 drams per 1 kg.  "It's not a secret that in Armenia gasoline is not used for  industrial or commercial purposes, therefore, it is more than obvious  that raising this tax can not lead to an increase in prices for final  goods," Mirumyan said. On the ordinary consumer - the income of the  socially unprotected strata of the population also will not affect  the increase, since, according to the tax and customs service, this  group of citizens exploits vehicles on liquefied gas, the purchase of  gasoline is the privilege of wealthy consumers. The increase in the  excise duty on liquefied gas, plus the VAT amount per 1 cubic meter,  was 20 drams, thus ensuring a return to the indicator for the year  2015. "In this price environment, public transport has already  worked, so do not expect an increase in the tariff for public  transport," he said. As for the vehicles used by ordinary citizens,  Vakhtang Mirumyan recalled that the new norms of the TC provided for  a reduction in the tax burden for citizens who receive wages less  than 279 thousand drams, which is 540 thousand or 90% of all  employees. Thus, according to the official, if something has gone  somewhere, it has arrived and there is an opportunity to compensate  for additional expenses. According to the excise duty on diesel fuel  Vakhtang Mirumyan noted a decrease in the base rate from 35 thousand  to 13 thousand drams (per 1 ton). At the same time, taxation of this  type of fuel is included in the field of VAT regulation. And if by  2018 the price of diesel fuel was set at 380 drams, as a result of  the changes it reached 440 drams. At the same time, thanks to the  changes, today the carrier can claim a VAT refund of 74 drams. "In  fact, the cost of diesel fuel is 366 drams, that is, 14 drams less  than it was before the entry into force of the Tax Code," he  explained. In the absolute loss is the sphere of agriculture, because  it is exempt from VAT and can not hope for a similar "bonus" of tax  regulation.  Nevertheless, Vakhtang Mirumyan considers unjustified  statements that raising the base rate of excise taxes on gasoline,  diesel fuel and liquefied gas may lead to an increase in the tax  burden of citizens and the country's economy.

POST A COMMENT
Input digits     


News
Armenia will create its own database of grape varietiesArmenia will create its own database of grape varieties
EDB: In the short term, we should expect a further slowdown in the  growth of the Armenian economyEDB: In the short term, we should expect a further slowdown in the  growth of the Armenian economy
VWFA study: Several tens of autochthonous grape varieties revealed in  ArmeniaVWFA study: Several tens of autochthonous grape varieties revealed in  Armenia
Minister: Artsakh`s budget in 2019 may be surplusMinister: Artsakh`s budget in 2019 may be surplus
New strategy of Armenia`s mining industry is directed against  New strategy of Armenia`s mining industry is directed against  "offshore hide-and-seak" and aimed at revealing the real owners of  companies
PRC Ambassador: Chinese company Sinohydro Corporation is ready to  take part in the construction of PRC Ambassador: Chinese company Sinohydro Corporation is ready to  take part in the construction of "North-South" in the next phase -  Tranche-4
Relevant committee of NA recommended the draft budget for 2019 for  adoptionRelevant committee of NA recommended the draft budget for 2019 for  adoption
Construction of a complex for IT companies is planned in YerevanConstruction of a complex for IT companies is planned in Yerevan
Converse Bank initiated the first SME Banking Club seminar in ArmeniaConverse Bank initiated the first SME Banking Club seminar in Armenia
Expert: Armenian banks need to focus on digital banking and  electronic channels when servicing SMEsExpert: Armenian banks need to focus on digital banking and  electronic channels when servicing SMEs
Nikol Pashinyan held a meeting with major businessmen of ArmeniaNikol Pashinyan held a meeting with major businessmen of Armenia
Argentinean businessmen intend to establish experimental agricultural  enterprise in Armenia Argentinean businessmen intend to establish experimental agricultural  enterprise in Armenia 
From 2021 Armenia will not attract more budget loansFrom 2021 Armenia will not attract more budget loans
Acting  Minister of Economic Development and Investments of Armenia  and representatives of the World Bank discussed issues related to  improving the business environment. Acting  Minister of Economic Development and Investments of Armenia  and representatives of the World Bank discussed issues related to  improving the business environment. 
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prosecutor General`s Office forced subsoil users to start  paying their obligations to the state budget and budgets of local  communitiesArmenian Prosecutor General`s Office forced subsoil users to start  paying their obligations to the state budget and budgets of local  communities
Armenia is in negotiations with the Russian side to reduce prices for  supplied gasArmenia is in negotiations with the Russian side to reduce prices for  supplied gas
Director General of Gazprom-Armenia: It will be profitable to  purchase Iranian gas only if it is 10% cheaper than Russian gasDirector General of Gazprom-Armenia: It will be profitable to  purchase Iranian gas only if it is 10% cheaper than Russian gas
Armenian government does not intend to revise concession agreement  with Russian Railways OJSCArmenian government does not intend to revise concession agreement  with Russian Railways OJSC
Hrant Tadevosyan: Up to 2030, $ 480 million to be invested in  modernization of Armenian gas transmission systemHrant Tadevosyan: Up to 2030, $ 480 million to be invested in  modernization of Armenian gas transmission system
ArmInfo released the 55th jubilee analytical bulletin covering  Armenian insurance marketArmInfo released the 55th jubilee analytical bulletin covering  Armenian insurance market
Armenian government took another risk mitigation measure for farms  attracting credit resources Armenian government took another risk mitigation measure for farms  attracting credit resources 
Director General of ``Gazprom-Armenia``: At the end of the year it  will be clear will gas prices remain the same or will they be  changed?Director General of ``Gazprom-Armenia``: At the end of the year it  will be clear will gas prices remain the same or will they be  changed?
Expert: The number of producers of high-quality honey is growing in  ArmeniaExpert: The number of producers of high-quality honey is growing in  Armenia
For the second half of 2018, the Cabinet of Ministers approved the  implementation of 90 community programs worth 2.45 billion dramsFor the second half of 2018, the Cabinet of Ministers approved the  implementation of 90 community programs worth 2.45 billion drams
Armenia and Iran discussed the possibility of opening a Halal office  in ArmeniaArmenia and Iran discussed the possibility of opening a Halal office  in Armenia
Discussions on fighting tax evasion and capital outflow from the  country to offshore companies started in YerevanDiscussions on fighting tax evasion and capital outflow from the  country to offshore companies started in Yerevan
Tourism potential of Armenia presented at WTM London exhibitionTourism potential of Armenia presented at WTM London exhibition
Creation of agricultural and land exchange is planned in ArmeniaCreation of agricultural and land exchange is planned in Armenia
Financial authorities of Armenia are on the way to all-out declaring  of income Financial authorities of Armenia are on the way to all-out declaring  of income 


Exchange rates
12.11.2018
RUB7.22-0.07
USD488.570.62
EUR549.84-3.35
GBP627.52-6.91
CAD369.850.05
JPY42.890.04
CNY70.32-0.06
CHF484.020.09

Experts
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects
Rating-Agentur Expert RA GmbH and AmRating issued an industry report  on Armenia`s banking systemRating-Agentur Expert RA GmbH and AmRating issued an industry report on Armenia`s banking system
Igor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care ofIgor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care of
Ara Khzmalyan: Armenia is comfortable to Russian touristAra Khzmalyan: Armenia is comfortable to Russian tourist
The Armenian delegation to the US followed the advice of President TrumpThe Armenian delegation to the US followed the advice of President Trump
Outflow of population and passivity of the Diaspora pushes property prices downOutflow of population and passivity of the Diaspora pushes property prices down
Finombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and  non-creditworthy consumersFinombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and non-creditworthy consumers
Vahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distancesVahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distances
Gagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directionsGagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directions
Vitaly Nesis: Armenia is very promising from the geological point of viewVitaly Nesis: Armenia is very promising from the geological point of view
The market of OSAGO goes into virtual spaceThe market of OSAGO goes into virtual space
Ishkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banksIshkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banks
The second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP beginsThe second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP begins
Successful business is forging for years - to the jubilee of IC Successful business is forging for years - to the jubilee of IC "INGO Armenia"
Armen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasibleArmen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasible
Expert: Real estate market of Armenia started demonstrating weak  signs of recovery in I half-yearExpert: Real estate market of Armenia started demonstrating weak signs of recovery in I half-year
Amulsar: Ecology and РeopleAmulsar: Ecology and Рeople

Search by date

Government Bonds

 

ISIN AMGB1029A250
Auction ID AMGB1029A250A
Date 12.05.2017
Issue date 29.10.2015
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit
The updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of EnergyThe updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of Energy
Eurasian Development Bank wishes to expand its activities in ArmeniaEurasian Development Bank wishes to expand its activities in Armenia
$ 100 million to be invested in repatriation project Build Armenia$ 100 million to be invested in repatriation project Build Armenia
FRV: Armenia`s growing desire to increase renewable energy sources is  a decisive factorFRV: Armenia`s growing desire to increase renewable energy sources is a decisive factor
Suren Papikyan: It`s safe now to do business in Armenia, assures  Armenian MinisterSuren Papikyan: It`s safe now to do business in Armenia, assures  Armenian Minister
Armenian state debt started reducing up to $6.7 bln to June 1 2018Armenian state debt started reducing up to $6.7 bln to June 1 2018
Minister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two yearsMinister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two years
Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan 
German bank KFW urges Armenia to build power line in the direction to  GeorgiaGerman bank KFW urges Armenia to build power line in the direction to  Georgia
Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation 
IFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture MinistryIFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture Ministry
Rosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to RussiaRosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to Russia
Armenian nuclear power station has a resource for work for another 30  yearsArmenian nuclear power station has a resource for work for another 30 years
Premier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the countryPremier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the country
In Armenia, an online service has been activated that allows  calculating the cost of customs clearance of a carIn Armenia, an online service has been activated that allows calculating the cost of customs clearance of a car
Gyumri programmers won on hekaton Gyumri programmers won on hekaton "Innovative ideas for tourism development"
Armenian Lori opens a large international ski resortArmenian Lori opens a large international ski resort
A number of light and alcohol industry enterprises of Armenia will be  provided with state supportA number of light and alcohol industry enterprises of Armenia will be provided with state support
Expert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promiseExpert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promise
Expert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violationExpert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violation
Maxim Sokolov: Russian Federation remains the main trade partner of  ArmeniaMaxim Sokolov: Russian Federation remains the main trade partner of Armenia