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Arka News Agency, Armenia
June 30 2006
SHADOW SECTOR MAKES 45% OF ARMENIAN ECONOMY
YEREVAN, June 30. /ARKA/. Shadow sector makes 45% of Armenian
economy, Tigran Sargsyan, Chairman of the Central Bank of Armenia,
told journalist on Friday in Yerevan.
"It means we have a real chance to double tax collection", the CBA
head said.
In his words, shady dealing rate in Western Europe and the United
States is not higher than 10-15%.
Sargsyan finds this 45 percent "a horrifying rate" saying it is a
fundamental trouble hobbling the republic's economy.
The CBA-conducted study showed that one can hardly to find even a
dozen companies in Armenia to pay taxes in accordance with the law.
In this connection, Sargsyan stressed the importance of the way of
payment, not the amount paid.
He said that this problem is badly in need of quick solution adding
that tax collection share in GDP in Armenia is reckoned among the
lowest even in comparison with CIS member countries. M.V. -0---
June 30 2006
SHADOW SECTOR MAKES 45% OF ARMENIAN ECONOMY
YEREVAN, June 30. /ARKA/. Shadow sector makes 45% of Armenian
economy, Tigran Sargsyan, Chairman of the Central Bank of Armenia,
told journalist on Friday in Yerevan.
"It means we have a real chance to double tax collection", the CBA
head said.
In his words, shady dealing rate in Western Europe and the United
States is not higher than 10-15%.
Sargsyan finds this 45 percent "a horrifying rate" saying it is a
fundamental trouble hobbling the republic's economy.
The CBA-conducted study showed that one can hardly to find even a
dozen companies in Armenia to pay taxes in accordance with the law.
In this connection, Sargsyan stressed the importance of the way of
payment, not the amount paid.
He said that this problem is badly in need of quick solution adding
that tax collection share in GDP in Armenia is reckoned among the
lowest even in comparison with CIS member countries. M.V. -0---