ArmInfo.The State Revenue Committee (SRC) of Armenia plans to overfulfill the annual tax collection plan in 2020. "We see the corresponding prerequisites," David Ananyan, the head of the department, said in an interview with reporters on November 4 in parliament, referring to the Prime Minister's statement that the authorities were guided by the principle "hope for the best, prepare for the worst" during the construction of the country's draft budget.
Earlier, on October 28, at the discussions on the draft budget for 2020, the Prime Minister of Armenia Nikol Pashinyan stated that the Armenian authorities laid down a restrained scenario of economic growth in the draft budget "based on the most conservative scenarios". "It was the same in 2018. The budget contained 4.8% economic growth, but in fact, 5.2% growth was ensured. We are guided by the principle of" hope for the best, prepare for the worst, "Pashinyan said.
Moreover, as Ananyan pointed out to reporters, the economy is a living organism. As with any living organism, according to the chief tax official, global processes can affect the country's economy, at various stages of its development, which makes the reaction of the Armenian economy to economic events unpredictable
To recall, tax revenues from the state treasury (tax revenues and state duty) in 2020 are projected at 1 trillion 602 billion 130 million (94.4% of the projected budget revenues) instead of 1 trillion 401 billion 876 million drams budgeted for 2019. This indicator is approximately 138 billion drams higher than the adjusted figure for the current year in the amount of 1 trillion 464 billion drams. In 2020, the share of state- owned tax revenues will increase by 0.3 percentage points compared to the current year, up to 22.6%. Moreover, compared with the actual result for 2018 (1 trillion 258 billion drams or 20.9% of GDP), the expected growth in 2019 will already grow by 1.4% or 206 billion drams. In 2020, the so-called "tax expenses" - lost income due to various tax benefits, are estimated at 457 billion drams, or 6.45% of the projected GDP. In the absence of such benefits, as the Minister of Finance pointed out, in 2020 Armenia could collect taxes for 2 trillion 059 billion drams or 29% of GDP. State treasury revenues are planned at the level of 44.6 billion drams, against 39.4 billion drams approved for 2019 and actual 37.7 billion drams for 2018.