ArmInfo.Tax collections of the state budget of Armenia in January- October 2021, compared to the same period last year, increased by 12.7%. Chairman of the State Revenue Committee (SRC) of the Republic of Armenia Rustam Badasyan announced this on November 2 at the preliminary hearings of the state budget for 2022.
"In January-October 2021, compared to the same period in 2020, the absolute growth of tax revenues is about 144 billion drams, 12.7% more taxes were collected," Badasyan said.
According to him, in January-September, the number of registered jobs (with a tax base) amounted to 651,141. "This is an absolute record in history. We have never had such an active taxpayer. The average salary is 223,137 drams, the total tax base is 145.294 billion drams," Badasyan said. To note, tax revenues (tax collections and state duties) in 2021 were fixed at 1 trillion 440 billion 136 million 839.5 thousand drams. However, during the first half of the year, the financial authorities revised their expectations - by about 80 billion drams, increasing the program indicator - up to 1 trillion 601 billion drams.
In the draft law of the state budget for 2022, the financial authorities, due to the expected economic growth of 7%, risked suggesting that the tax collections of the state treasury will exceed both the established and adjusted upward indicator for the current year. Thus, the draft state budget forecasts an increase in tax revenues (tax collection and state duty) for all 404 billion drams. In absolute terms, tax collections will amount to 1 trillion 843.8 billion drams (up to 23.4% of GDP), instead of 1 trillion 581.0 billion drams (22.5%) expected by the end of 2021.
Thus, 94.7% of all state budget revenues (1 trillion 946.2 billion drams, 24.7% of GDP) will be provided by tax revenues, 1.8% by official grants and 3.2% by other revenues. Official grants, which Armenia is applying for next year, will amount to about 40.3 billion drams, or approximately 81.6 million US dollars, against 24.3 billion drams laid down by the state budget for the current year and the actual 12.4 billion drams last year.
In 2022, the revenues of the state treasury of Armenia, compared with the approved state budget for 2021, will grow by about 437 billion drams, or 28.9%, expenses - by 337.5 billion drams. Accordingly, the deficit of the state treasury will be reduced by 99.2 billion drams or 29% and will amount to 242.2 billion drams or 3.1% of GDP.
