ArmInfo. According to the State Revenue Committee of Armenia, large and medium-sized taxpayers for 10 months of 2017 increased tax deductions to the state budget by 9.2% per annum or by 37 billion AMD, providing a volume of 437 billion. This amounts to 61% of the total tax revenue of the budget. This was reported by the press service of the SRC.
Taking into account the changes in the dynamics of overpayments (from 6.3% growth for 10 months in 2016 to 19.2% decline for the reporting period), the rate of growth of tax deductions is 2 times higher - by 62.3 bln drams or 16%. At the same time, it was possible to reduce tax liabilities by 31.5% or 5 billion drams.
According to the source, tax revenues provided by bona fide taxpayers increased by 7% with an increase in turnover by 11%, whereas for taxpayers from the risk group, the growth of these indicators was 20% and 27.7%, respectively.
"The growth of income tax and income tax collections is noteworthy, which indicates an improvement in the economic environment of the business," the SRC said in an official statement. In particular, the income tax charges increased by 17.2% or 10.4 billion drams. Tax revenues for VAT increased by 5 billion drams.
In 57 spheres, tax revenues increased by 53.6 billion drams or 18.6%, in particular in the mining sector, supermarkets, services, manufacturing, import and trade. According to 502 taxpayers, tax deductions to the budget decreased by 56.2 billion drams, while 584 - by contrast, increased by 93 billion drams or 48.6%.
The SRCA noted that in January-October 2017, due to tax inspections, the volume of declared amounts increased by 1.8 billion drams or by 24.6%.