Thursday, April 1 2021 12:43
Naira Badalian

Armenian tax officials report over-fulfillment of quarterly tax  collection plan: Finance Ministry promises to take new heights

Armenian tax officials report over-fulfillment of quarterly tax  collection plan: Finance Ministry promises to take new heights

ArmInfo. The revenues of the state budget of Armenia for the first quarter of 2021 exceeded by more than 20 billion drams. This was stated by the Prime Minister of the  Republic of Armenia Nikol Pashinyan at a meeting of the Government of  the Republic of Armenia on April 1.  

According to him, the volume of  trade turnover in January-March of this year increased by more than  8% compared to the same period in 2020, while March recorded an  increase of more than 20% compared to March of last year. "The  indicators are quite good for the post-war, crisis year," Pashinyan  said, thanking taxpayers and tax officials.

Thus, according to the chairman of the State Revenue Committee of  Armenia, Edward Hovhannisyan, in March of this year alone, compared  to March of 2020, the number of transactions on cash receipts and  settlement documents increased by more than 8 million 640 thousand  units or by 122 billion drams. In the quarterly context, the  difference in sales turnover amounted to 116.8 million drams (6.2  million more transactions). As a result, the actual fees of the state  treasury for the first quarter reached 332.9 billion drams, instead  of the planned 305 billion drams. As the chief tax officer explained,  taking into account that 5.6 billion drams of the specified amount  are receipts from excise payments, the actual over-fulfillment  amounted to 22.3 billion drams.

First Deputy Finance Minister Karen Brutyan, in turn, noted that  based on the existing circumstances, the financial department expects  to exceed the annual tax collection plan by about 40 billion drams.   "With this in mind, the Ministry of Finance will make a proposal to  adjust the figure recorded in the state budget from 1 trillion 440  billion drams to 1 trillion 480 billion drams," Brutyan said.

It should be noted that according to the approved state budget for  2021, the revenues of the state treasury in the current year are  programmed in the amount of 23.6% of GDP and amount to 1,509. 5  billion drams, of which tax revenues and state duties amount to  1,440. 1 billion drams. The share of the latter in GDP is 22.5%. The  deficit of the state budget of the Republic of Armenia for 2021 is  programmed at the level of 5.3% of GDP and is 341.4 billion drams, of  which 138.7 billion drams are internal sources and 202.7 billion  drams are external sources. Based on the projected revenue level of  the state budget of the Republic of Armenia in the amount of 23.6% of  GDP and based on the possibility of financing the deficit in the  amount of 5.3% of GDP, the Government of the Republic of Armenia  plans to provide expenditures in the amount of 1.850.9 billion drams  or 28.9% of GDP in 2021. Current expenditures will amount to AMD  1,634. 6 billion, or 25.6% of GDP. Expenditures on operations with  non-financial assets are projected at 216.3 billion drams, or 3.4% of  GDP.

POST A COMMENT
Input digits     


News
Safe online shopping. A few tipsSafe online shopping. A few tips
Ardshinbank: Visa Direct transfers with more advantageous termsArdshinbank: Visa Direct transfers with more advantageous terms
Interview with Huib-Jan de RuijterInterview with Huib-Jan de Ruijter
Armenia`s foreign trade turnover with the EAEU countries is in  declineArmenia`s foreign trade turnover with the EAEU countries is in  decline
Head of the Fund: Electricity tariff may be loweredHead of the Fund: Electricity tariff may be lowered
Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021
Natural population growth in Armenia decreased by 17% in the first  quarter of 2021Natural population growth in Armenia decreased by 17% in the first  quarter of 2021
In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%
Armenia considers the possibility of extending the ban on the import  and sale of goods of Turkish originArmenia considers the possibility of extending the ban on the import  and sale of goods of Turkish origin
Acting Minister of Economy: It`s time to make a decision on Amulsar  Acting Minister of Economy: It`s time to make a decision on Amulsar  
Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021
Lavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidlyLavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidly
In Q1 services in a number of areas remained on the rise, but  significantly slowed down the rateIn Q1 services in a number of areas remained on the rise, but  significantly slowed down the rate
Armenia`s alcohol industry recovers from coronavirus crisis in a yearArmenia`s alcohol industry recovers from coronavirus crisis in a year
Dominant telecommunications sector registers growth in Armenia`s  communications sectorDominant telecommunications sector registers growth in Armenia`s  communications sector
Historical records: Pashinyan spoke about the process of  economic recovery in ArmeniaHistorical records: Pashinyan spoke about the process of  economic recovery in Armenia
Passenger traffic in Armenia deepens into recession amid accelerated  growth in freight trafficPassenger traffic in Armenia deepens into recession amid accelerated  growth in freight traffic
Economy Minister insists: Armenia will reach double-digit economic  growth by the end of the yearEconomy Minister insists: Armenia will reach double-digit economic  growth by the end of the year
Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%
In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1
Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% 
Armenian economy tries to growArmenian economy tries to grow
Electricity generation in Armenia slowed down y-o-y growth rate in Q1Electricity generation in Armenia slowed down y-o-y growth rate in Q1
Armenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annumArmenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annum
Central Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflowCentral Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflow
The art of interpretation: 50% is also a result. The art of interpretation: 50% is also a result. "Prosperous Armenia"  indulges in populism, insisting that writing off debt on loans is  justified
Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021
Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021
The regulator is confident that it will be possible to return to the  inflation target next yearThe regulator is confident that it will be possible to return to the  inflation target next year
Central Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditionsCentral Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditions
Armenian lawmaker promises that cross-border VAT payments will be  canceledArmenian lawmaker promises that cross-border VAT payments will be  canceled
Iranian official: Armenia is a window to international marketsIranian official: Armenia is a window to international markets
Central Bank of Armenia raised refinancing rate from 5.5% to 6%Central Bank of Armenia raised refinancing rate from 5.5% to 6%
ARMENAL prepares for ASI certificationARMENAL prepares for ASI certification
IMF gives forecast of Armenia`s key indicators for 2021 - 2022IMF gives forecast of Armenia`s key indicators for 2021 - 2022
Land continues to be the most attractive asset in ArmeniaLand continues to be the most attractive asset in Armenia
In cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone numberIn cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone number
Armenia and EU intend to expand cooperation in the customs fieldArmenia and EU intend to expand cooperation in the customs field
Summarizing the results of the campaign dedicated to Women`s HolidaysSummarizing the results of the campaign dedicated to Women`s Holidays
Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%
On April 26-30, 2021, the volume of dollar transactions in the  foreign currency interbank of Armenia decreased by 30%On April 26-30, 2021, the volume of dollar transactions in the  foreign currency interbank of Armenia decreased by 30%
Ambassador: Armenia`s business environment is favorable for Iranian  businessAmbassador: Armenia`s business environment is favorable for Iranian  business
Pashinyan visited the innovative town of Innopolis in KazanPashinyan visited the innovative town of Innopolis in Kazan
Armenia entered the TOP-5 countries recommended for Russian tourists  for the May holidaysArmenia entered the TOP-5 countries recommended for Russian tourists  for the May holidays
Converse Bank. Another cashback campaign dedicated yet to another holidayConverse Bank. Another cashback campaign dedicated yet to another holiday
Armenia`s international reserves increased by 16.5% per annum by  April 2021Armenia`s international reserves increased by 16.5% per annum by  April 2021
Carrefour plans to open 10 more supermarkets in Armenia during the  yearCarrefour plans to open 10 more supermarkets in Armenia during the  year
ArmInfo Financial rating: Health insurance fees stagnate, and travel  insurance is in the deep redArmInfo Financial rating: Health insurance fees stagnate, and travel  insurance is in the deep red
Armenia is going to prolong the loan with ADB and significantly  increases the financial burden of the state treasuryArmenia is going to prolong the loan with ADB and significantly  increases the financial burden of the state treasury
Expert: Armenian retail should work towards creating solutionsExpert: Armenian retail should work towards creating solutions
One more type of Converse Bank lending made available on the SME online lending platformOne more type of Converse Bank lending made available on the SME online lending platform
Armenia significantly reduced imports of passenger cars in 2020Armenia significantly reduced imports of passenger cars in 2020
IDpay: transfers from Armenia to Russia and vice versaIDpay: transfers from Armenia to Russia and vice versa
Armenia increased imports of wheat in 2020, reducing the volume of  flour suppliesArmenia increased imports of wheat in 2020, reducing the volume of  flour supplies
Pashinyan promises to announce a new agricultural program in the near  futurePashinyan promises to announce a new agricultural program in the near  future
Robert Kocharyan: Armenia can be turned into a large construction  siteRobert Kocharyan: Armenia can be turned into a large construction  site
Kocharyan: Opening of border with Turkey will deal a serious blow to  Armenia`s agriculture today Kocharyan: Opening of border with Turkey will deal a serious blow to  Armenia`s agriculture today 
ArmInfo financial rating: Travel insurance goes deeper into the  negativeArmInfo financial rating: Travel insurance goes deeper into the  negative
In 2020, Armenia reduced wine exports by 5.9%, while imports  increased by 58.4%In 2020, Armenia reduced wine exports by 5.9%, while imports  increased by 58.4%
The SRC of Armenia proposes to radically simplify the procedure for  VAT refund to exporters and reduce the refund period from three to  one monthThe SRC of Armenia proposes to radically simplify the procedure for  VAT refund to exporters and reduce the refund period from three to  one month
Read more


Exchange rates
07.05.2021
RUB7.050.06
USD522.090.64
EUR630.682.49
GBP726.751.10
CAD428.502.69
JPY47.850.07
CNY80.720.37
CHF575.312.04