Armenian SRC: The volume of tax revenues planned for 2018 is real

ArmInfo. The volume of tax  revenues scheduled for 2018 is real and will be provided by the  Committee of State Revenues (SRC) of Armenia. Head of the department  Vardan Harutyunyan stated on March 15 at a meeting with the head of  the mission of the International Monetary Fund (IMF) of Armenia  Hossein Samiei.

As the press service of the tax and customs body reports, noting the  improvement of macroeconomic indicators, the parties stressed the  contribution of SRC to the development of tax administration. It was  noted that structural changes, optimization of the system and  improvement of administration in the fight against the shadow economy  in 2017 had a positive impact on fiscal compliance. According to  Harutyunyan, the figures recorded for the first three months on the  collection of tax revenues of the state treasury, which will soon be  published, will show that today actual tax and other mandatory  payments to the state budget have exceeded the planned ones. Hossein  Samiei, in his turn, noted that the tax and customs service has a  great responsibility for financing the current and capital  expenditures of the budget, which the head of the department Vardan  Harutyunyan said: The committee will meet expectations. The work  aimed at increasing the tax discipline by taxpayers has borne fruit,  they will continue this year," he said.

The IMF provided software assistance within the framework of  "Long-Term Financing" (EFF) in Armenia from 2014 to 2017. The total  amount of appropriations was brought to 66.52 million SDR or about $  90.28 million. The program with the total cost of 82.21 million SDR  or $ 111.57 million was approved on March 7, 2014. As head of the  Armenian mission Hossein Samiei stated in April 2017, the goal of the  program is to assist the country's economy by supporting the balance  of payments, as well as the macroeconomic policy coordinated with the  Armenian authorities in implementing the programs of reforms in  Armenia. In 2017, the IMF also provided technical assistance to the  Armenian government in the process of reviewing fiscal rules and tax  policy in the Republic of Armenia.

According to the results of 2017, the State Revenue Committee (SRC)  of Armenia provided 1 201.6 trillion AMD of tax revenues (including  VAT) instead of 1,135 trillion AMD. The amount of tax revenues for  the reporting period exceeded the actual annual indicator of 2016 by  124.7 billion AMD or 11.6% (1,076.9 billion). The positive tendency  was also registered this year: according to the results of  January-February 2018, the tax and customs revenues of the state  budget totaled 183.9 billion drams, as compared to the same period of  2017, fixing growth by 19.3 billion drams or 11,7%. At the same time,  payers of the trade fee increased tax payments to the budget by 12.2%  in the reporting period: by 10.4% for large and medium taxpayers, by  19.5% for small-scale taxpayers.