Monday, August 20 2018 21:22

In January-July, 2018, tax revenues to the state budget increased by  16.1%

In January-July, 2018, tax revenues to the state budget increased by  16.1%

ArmInfo. In January-July 2018, the state budget of Armenia received 766bln AMD in the form of  taxes, with an annual growth of 16.1%.

"Taking into account the tax revenues of 1.249 trillion drams  envisaged for 2018, which is 107.5 billion higher than the actual  figure of 2017, it turns out that by our joint efforts, in essence,  we managed to carry out the program for a maximum of 7 months,"David  Ananyan, the  chairman of the State Revenue Committee stated this  on  August 20 at a meeting with 500 employees of the tax enforvement  entities. In addition to the results of 7 months, he also presented a  strategy for planning the tax revenues of the state budget and the  principal approaches of the SRC to business entities.

Regarding the planning of the tax revenues of the state budget, in  particular, the methodology of the monthly plan, the chairman of  SRC   stressed that this is based on forecasts and calculations based on  macroeconomic indicators, headed by the GDP value. "The ratio of  taxes to GDP is set at 20.6% for 2018, with an increase to 21% in  2019. In terms of tax collection, our main mission is to provide tax  revenues to the budget in conditions of economic growth and to  increase these revenues by reducing shadow economy, "he stressed.

Principal approaches of SRC to business entities mean that the  Committee should assist the business, as a result of which the  public's perceptions of the work of the department change. "If we are  aimed at securing budget revenues, then we need to reconsider our  attitude to business entities." During tax inspections, we must  abandon the vicious practice of fining at any cost, " the head of SRC  said, stressing that preventing the work of the business will create  a healthy business- Wednesday, and due to the growth in volumes, in  fact, provide an additional increase in GDP.

Ananian said also,  that currently the government discusses the main  directions of key changes in the Tax Code of the Republic of Armenia  related to simplification of taxation regimes submitted by the SRC  together with the Ministry of Finance.

At the end of the meeting, the chairman of the SRC urged the tax and  customs officials to review their behavioral line, eliminate  corruption manifestations and fulfill their official duties from the  interests of the state and the prospects for development.

According to the National Statistical Service of the Republic of  Armenia, in January-July 2018 economic activity increased by 9.3% per  annum (against 6.2% growth a year earlier). In July this year. by  July 2017 economic activity increased by 11.1% (against 7% a year  earlier), but only in July 2018 - by 8% (against 5% a year earlier).  The growth of economic activity in January-July of 2018 was  determined to a greater extent by the services sector - by 18.7%, the  construction sector - by 10.4% and the trade - by 8.9%, against which  the growth of the agricultural sector and industrial sector looked  modest - 4 , 6% and 4.3% per annum, respectively. The energy complex  has slowed down the rate of annual growth to 0.8% from 7.8% in  January-July 2017. 

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