Tuesday, January 16 2018 11:58
Naira Badalian

Tax revenues in the state treasury of Armenia for 2017 grew by 7.3% - up to 1 trillion. 155 billion drams

Tax revenues in the state treasury of Armenia for 2017 grew by 7.3% - up to 1 trillion. 155 billion drams

ArmInfo. In 2017, tax revenues to the state budget of Armenia amounted to 1 trillion. 201.6 billion drams. (including VAT refunds), which is by 11.6% or 124.7 billion drams more than the same indicator for the year 2016.

This was reported to the Prime Minister of Armenia Karen Karapetyan by the Head of the State Revenue Committee Vardan Harutyunyan. On January 15, the head of government visited the tax and customs authority, where he got acquainted with the tax revenues of 2017, the results of the activities of tax and customs authorities, as well as tasks for 2018.

As the press service of the government reports, the Prime Minister of Armenia stated that he plans meetings with all state agencies in order to sum up the 2017 results and talk about plans for 2018. "This year the principles are the same - what conditions need to be created to make the business feel good, conducting business was easy, and the rules of the game for people working in the legal sphere were equal," Karen Karapetyan said.

According to the chairman of the SRC, tax revenues to the state treasury without VAT refund amounted to 1 trillion. 155 billion drams, which is 7.3% or 78.7 billion drams more than the same period last year. The Head of the Committee noted that the amount of VAT refund on turnover subject to zero rate amounted to 60.6 billion drams, which is 24.6% or 12 billion drams more than in the same period in 2016.

Karen Brutyan, the first deputy head of the department, said that in 2016 work to improve tax administration was mainly conducted in the direction of identifying the "shadow" and leveling corruption risks. Thus, in respect of the average and average taxpayers, a system of individual control and nanolase was introduced, which allows, through daily monitoring, to identify and prevent tax violations. As regards small taxpayers, a control and auxilliary analysis system was introduced, thanks to which the tax authority identifies taxpayers deviating from general norms.

The Prime Minister was also informed that, in order to ensure the targeting of inspections, the criteria for identifying risky taxpayers were revised, resulting in a 25% reduction in the number of thematic inspections. Samvel Avetikyan, deputy chairman of the SRC, reported that 318 bln drams of government revenues were provided by the customs authorities, an increase of 60 bln drams, or 23.3%, mainly due to increased imports and improved administration. In 2017, 39 thousand 270 cars were imported to the republic, in 1616 - 16 thousand 887. The budget additionally received 11 billion 660 thousand drams.  Touching upon the legislative reforms, Vakhtang Mirumyan, deputy head of the SRC, said that 2000 self- employed persons in the sphere of microenterprise are exempt from taxes. Summing up the meeting, Karen Karapetyan noted: "I highly appreciate the work of the SRC  in 2017, and I would like to thank you for your work. 2018, 2019, 2020 should be very consistent in terms of work. As for business, Armenia should become the most exemplary, enviable country. If we provide this field, all other problems as derivatives will be resolved. And I'm sure that we can do it."

It should be noted that according to the Budget for 2018, the revenue part will make 1.308.2 billion drams, against 1.210.0 billion drams approved for 2017 and 1,135.9 billion drams actual for the year 2016. At the same time, tax revenues are expected to increase by 1, 248. 5bln AMD - according to the results of 2017, taxes were planned at the level of 1135.0bln AMD (93.8% of all revenues to the state treasury), against the actual 1076.9bln AMD (94.8%) in 2016. Other budget revenues in the year will come to 23.9 billion drams.  In 2017, the figure is expected at 44.1 billion drams (3.6%), and in 2016 made 30.6 billion drams (2.7%).

POST A COMMENT
Input digits     


News
Number of plastic cards up as capital relocated to Armenia Number of plastic cards up as capital relocated to Armenia 
AMD 4,248,945 to AMD 4,248,945 to "QaylTech": The August beneficiary of "The Power of One Dram" is "The Rehabilitation City of Heroes" - psychological rehabilitation center
Airlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in ArmeniaAirlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in Armenia
Cargo traffic down, passenger traffic up in Armenia in first half,  2022Cargo traffic down, passenger traffic up in Armenia in first half,  2022
Growth of trade sector was facilitated by increase in activity in  wholesale and car trade marketsGrowth of trade sector was facilitated by increase in activity in  wholesale and car trade markets
4.5% increase in proceeds of Armenia`s communication sector in first  half 20224.5% increase in proceeds of Armenia`s communication sector in first  half 2022
188,856 tourists visit Armenia this July188,856 tourists visit Armenia this July
Accelerated growth of Armenian industrial sector was driven by  processing industryAccelerated growth of Armenian industrial sector was driven by  processing industry
Veolia Djur proposes to raise water tariff in ArmeniaVeolia Djur proposes to raise water tariff in Armenia
State Revenue Committee of Armenia starts active administration in  pursuance of law State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"
Armenia`s premier calls for revising economic programmes Armenia`s premier calls for revising economic programmes 
EDB to allocate $25 million to implement Armenia`s largest livestock  programEDB to allocate $25 million to implement Armenia`s largest livestock  program
Double-digit growth in economic activity in Armenia is accompanied by  surge in imports and exportsDouble-digit growth in economic activity in Armenia is accompanied by  surge in imports and exports
Armenian business forum to be held in Yerevan for second timeArmenian business forum to be held in Yerevan for second time
Production of aluminum foil in Armeniaincreased by 8% in June 2022Production of aluminum foil in Armeniaincreased by 8% in June 2022
Metallurgy industry of Armenia sums up H1 2022 with a 7% declineMetallurgy industry of Armenia sums up H1 2022 with a 7% decline
EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB 
EADB to allocate $37mln for construction of 11 solar power stationsEADB to allocate $37mln for construction of 11 solar power stations
Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%
 Further rise in food prices in Armenia  Further rise in food prices in Armenia 
Loan payoff with another bank via AppLoan payoff with another bank via App
Deputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpointDeputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpoint
Ferry communication to be launched this month - minister Ferry communication to be launched this month - minister 
Armenia is among the TOP-5 destinations for Russian tourists this  autumArmenia is among the TOP-5 destinations for Russian tourists this  autum
Austria to invest in Armenia`s SyunikAustria to invest in Armenia`s Syunik
Gyumri Breeding Station reports three-fold growth in barley output Gyumri Breeding Station reports three-fold growth in barley output 
CBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banksCBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banks
CBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increaseCBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increase
Minister: The share of the mining industry in the total volume of  Armenia`s exports has decreasedMinister: The share of the mining industry in the total volume of  Armenia`s exports has decreased
Statistical data, real situation in agricultural sector different -  minister Statistical data, real situation in agricultural sector different -  minister 
FLYONE ARMENIA launches flights to Domodedovo International AirportFLYONE ARMENIA launches flights to Domodedovo International Airport
Armenia, Iran deepen cooperation in mining industryArmenia, Iran deepen cooperation in mining industry
CBA raises refinancing rate from 9.25% to 9.5% CBA raises refinancing rate from 9.25% to 9.5% 
23.9% rise in petrol prices in Armenia in first half of 2022 23.9% rise in petrol prices in Armenia in first half of 2022 
Armenia meets Russia`s brand demandArmenia meets Russia`s brand demand
Armenia is not ready to open the land border with Turkey: ExpertArmenia is not ready to open the land border with Turkey: Expert
Armenia, Qatar discuss possible areas of bilateral cooperationArmenia, Qatar discuss possible areas of bilateral cooperation
Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022
Ardshinbank offers a new type of loan for small and medium enterprises.Ardshinbank offers a new type of loan for small and medium enterprises.
Armenia among priority partners of Austrian Development AgencyArmenia among priority partners of Austrian Development Agency
International reserves of Armenia reaches historical maximum by July  2022International reserves of Armenia reaches historical maximum by July  2022
More funds for government-sponsored medical services More funds for government-sponsored medical services 
South Caucasus Railway delivers production equipment from Yerevan to  KrasnodarSouth Caucasus Railway delivers production equipment from Yerevan to  Krasnodar
4% inflation expected in Armenia in medium-term 4% inflation expected in Armenia in medium-term 
Ameriabank leads in list of largest taxpaying banks in ArmeniaAmeriabank leads in list of largest taxpaying banks in Armenia
Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022
Over 500 Armenian servicemen to benefit from soft lending programmeOver 500 Armenian servicemen to benefit from soft lending programme
Washington to allocate $120mln to Armenia for democratic development,  economic stabilityWashington to allocate $120mln to Armenia for democratic development,  economic stability
17.1% increase in food prices significantly affected low-income  citizens of Armenia - study17.1% increase in food prices significantly affected low-income  citizens of Armenia - study
Armenia, Ethiopia consider development of cooperation in e-governance  and technology educationArmenia, Ethiopia consider development of cooperation in e-governance  and technology education
Armenian assets of GeoProMining Group of Compaines significantly  increase payments to state budgetArmenian assets of GeoProMining Group of Compaines significantly  increase payments to state budget
Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s "Gloomy and More Uncertain"  forecast
Armenia`s vice-premier hosts AMD company vice-presidents Armenia`s vice-premier hosts AMD company vice-presidents 
MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development 
Mirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relationsMirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relations
Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022
Converse Bank completes distribution of bonds ahead of scheduleConverse Bank completes distribution of bonds ahead of schedule
Armenia implements intellectual property development strategyArmenia implements intellectual property development strategy
Iran successfully expands trade with Armenia: Iran TPO headIran successfully expands trade with Armenia: Iran TPO head
Converse Bank offers new loans to SME’sConverse Bank offers new loans to SME’s
Read more


Exchange rates
11.08.2022
RUB6.70-0.01
USD406.090.31
EUR419.784.30
GBP495.674.92
CAD318.132.94
JPY30.630.57
CNY60.320.30
CHF431.413.82