SRC: In 2018, the number of entities with zero tax audit indicators in Armenia will increase

ArmInfo. In 2018, the number of  entities with zero indicators of tax inspections in Armenia will  increase. The deputy chairman of the RA State Revenue Committee Rafik  Mashadyan expressed such confidence on May 30 in the National  Assembly of Armenia, presenting a report on the department's  performance of the state budget indicators of the country in 2017.

According to him, in 2017, as a result of inspections at 736  facilities in 236 (25%), no violations were found. And this trend,  says Mashadyan, will continue this year. He stressed that the  effectiveness of inspections has increased and amounted to about 96%.  The basis of success is the idea of targeted audits, risk assessment  using computer systems. The deputy chairman of the SRC stressed that  the growth of tax revenues last year was implemented not only by  reducing the shadow economy, increasing the level of administration  and changes in the country's legislation, but also by GDP growth.

The day before, when presenting the main parameters of the state  budget of 2017, the RA Minister of Finance Atom Janjughazyan stressed  that 93% or 1.58 trillion. drams fell on tax receipts. "The grants  amounted to only 1.02%, the specific weight of the value-added tax  was 35.1%, the income tax - 29.5%, the profit - 9.5%," the minister  said. At the same time, he continued, the budget revenues amounted to  1.5 trillion AMD, of which 237 billion fell on capital investments.  "The volume of the capital investments made is insufficient and not  adequate to the solution of economic problems, and this is the reason  for some deviations: the borrowed debt prevails over capital  investments because it was aimed at current expenses." For a  short-term period, this is natural," Janjughazyan explained. Instead  of the expected economic growth at the level of 3.2%, a growth of  7.5% was registered. "In terms of trade turnover, growth of 44.6% was  recorded in the direction of exports to Russia," the minister  stressed. The expenditure part of the state budget of Armenia for  2017 was 1.561 trillion drams. The head of the Ministry of Finance  informed that about 27% of the expenditure part of the state budget  of Armenia in 2017 was directed to payment of pensions and benefits,  which is natural. According to the minister, the second most  important item of the expenditure side of the budget is capital  expenditures - 22%. "Here, the share of interest payments on  servicing the public debt is significant. Compared to 2016, the  indicator increased by 1%. If in 2016, 7% were allocated for debt  servicing, then 8% in 2017, which causes some concern, but it is  necessary to do everything possible to keep it in a controlled range,  "A. Janjughazyan stressed.