ArmInfo.This January-July, the tax revenues of Armenia's consolidated budget totaled 1,086.7bln, which is 81.4% of the target for January-September 2022, 1,334.9bln.
During the period under review, the tax revenues of Armenia's state budgeted exceeded last year's revenues by 24.6% or AMD 214.2bln. As compared with 2020, the tax revenues showed a 37.6% growth (AMD 297bln), 30.6% (AMD 254.7bln) growth as compared with 2019, and 60.9% or AMD 411.5bln as compared with 2018.
VAT revenues totaled AMD 339.8bln, a 19.6% growth as compared with 2021, 33.9% growth as compared with 2020, 25% growth as compared with 2019 and 49.3% growth as compared with 2018.
Income tax revenues totaled AMD 265.4bln, a 7.1% growth as compared with 2021, 9.7% growth as compared with 2020, 12.9% and 33.9% growth as compared with 2019 and 2018 respectively. Excise tax revenues totaled AMD 62.3bln, 15.2%, 0.8% and 8.1% growth as compared with 2021, 2019 and 2018 respectively.
Profit tax revenues totaled AMD 168.3bln, 48.5%, 64.2%, 38.9% and 58.1% growth as compared with 2021, 2020, 2019 and 2018 respectively.
Environmental and nature management tax revenues totaled AMD 57.6bln, 61.7%, 87.9%, 109.2% and 67.2% growth as compared with ?? 2021, 2020, 2019 and 2018 respectively.
Turnover tax revenues totaled AMD 27.5bln, 28.2%, 44.9%, 39.8% and 103.1% growth as compared with 2021, 2020, 2019 and 2018 respctively.
Social payments totaled AMD 33.4bln, 45.2%, 182.9%, 225.3% and 227.5% growth as compared with 2021, 2020, 2019 and 2018 respectively.
Other taxes totaled AMD 29.2bln, 13%, 105.5%, 140.6% and 138.2% growth as compared with 2021, 2020, 2019 and 2018 respectively.
State duties totaled AMD 68.8bln, 243.1%, 292.8%, 230.3% and 368.9% growth as compared with 2021, 2020, 2019 and 2018 respectively.
According to the approved 2022 budget, Armenia's budget revenues are to total AMD 1,947.8bln (24.7% of the GDP). On-budget expenditures are to total AMD 2,184bln or 27.7% of the GDP. The budget deficit is estimated at AMD 236.2bln. 95% of the budget revenues will be ensured due to taxes and duties. The tax revenues are to total AMD 1,844bln against the actually recorded AMD 1,586.9bln or 22.7% of the GDP last year (0.3 percentage point more than in 2020). On July 23, Armenia's government revised its tax revenue targets for 2022 up to AMD 40bln (about $100mln).
