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TAX REVENUES GROW BY 19.8% IN JANUARY-OCTOBER 2006 ON SAME MONTHS OF LAST YEAR
Noyan Tapan
Dec 04 2006
YEREVAN, DECEMBER 4, NOYAN TAPAN. In January-October 2006, tax
revenues of the RA state budget made more than 285 billion drams
(about 670 million USD), as a result of which the annual program on
collection of tax revenues was executed by 79%. According to the RA
Ministry of Finance and Economy, the revenues increased by 19.8% or
47 billion drams on the same period of 2005, with high growth rates
being registered with respect to all types of taxes as a result of
economic growth and improved administration, as no amendments to have
considerable impact on budgetary revenues have been made in the tax
legislation this year. In 2006, the tendency of growth in direct taxes
(profit tax, income tax) continued, thanks to which the structure of
tax revenues improved compared with the same period of last year. The
share of direct taxes (profit tax, income tax) in the tax revenues
grew by 4.3% - from 24.2% in January-October 2005 to 28.5%. At the
same time, the share of indirect taxes (VAT and excise tax) declined
from 60.4% to 56.5%.
Noyan Tapan
Dec 04 2006
YEREVAN, DECEMBER 4, NOYAN TAPAN. In January-October 2006, tax
revenues of the RA state budget made more than 285 billion drams
(about 670 million USD), as a result of which the annual program on
collection of tax revenues was executed by 79%. According to the RA
Ministry of Finance and Economy, the revenues increased by 19.8% or
47 billion drams on the same period of 2005, with high growth rates
being registered with respect to all types of taxes as a result of
economic growth and improved administration, as no amendments to have
considerable impact on budgetary revenues have been made in the tax
legislation this year. In 2006, the tendency of growth in direct taxes
(profit tax, income tax) continued, thanks to which the structure of
tax revenues improved compared with the same period of last year. The
share of direct taxes (profit tax, income tax) in the tax revenues
grew by 4.3% - from 24.2% in January-October 2005 to 28.5%. At the
same time, the share of indirect taxes (VAT and excise tax) declined
from 60.4% to 56.5%.