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ARMENIAN TAX AUTHORITIES MEET FIRST HALF TAX REVENUE TARGETS
/ ARKA /
July 28, 2011
YEREVAN
The government has met its tax revenue targets projected for the
first half of 2011 in full, Prime Minister Tigran Sargsyan said at
today's Cabinet session.
"Moreover, it has collected even more taxes than projected," he said
asking the chief treasurer to present the details to the public.
While speaking about the process of budget execution Deputy Minister
of Finance, Chief Treasurer Atom Janjughazyan spoke in detail about
the principles used to form and adopt the budget and talked about
internal and external sources of financing.
"According to an updated program, budget revenues for the first six
months totaled 402.1 billion drams, 99.6% of all projected budget
revenues. The figure for extra-budgetary funds was 89.4%," he said.
He said collection rate of duties and taxes amounted to 100.03%.
Instead of projected 314 billion drams, tax authorities collected
314.1 billion drams. The authorities also collected 60.865 billion
drams in mandatory social payments, up from projected 60 billion drams.
"This all are government revenues, a total of 383.65 billion drams,
which make 100.8% of the projected amount," he said.
As for expenditures, according to the chief treasurer, they were
projected at 458.6 billion drams, of which 443 billion drams were to
be funded by the state budget, but during the reporting period these
expenditures were performed by 90% and 52% respectively.
He noted that the annual deviation of expenditure was about 2-3%,
which is considered normal resulting from savings due to extension
of deadlines for implementation of some projects. He said it was a
concern, but concrete steps are taken to minimize the deviations from
the projected spending targets. ($ 1 - 364.42 AMD).
/ ARKA /
July 28, 2011
YEREVAN
The government has met its tax revenue targets projected for the
first half of 2011 in full, Prime Minister Tigran Sargsyan said at
today's Cabinet session.
"Moreover, it has collected even more taxes than projected," he said
asking the chief treasurer to present the details to the public.
While speaking about the process of budget execution Deputy Minister
of Finance, Chief Treasurer Atom Janjughazyan spoke in detail about
the principles used to form and adopt the budget and talked about
internal and external sources of financing.
"According to an updated program, budget revenues for the first six
months totaled 402.1 billion drams, 99.6% of all projected budget
revenues. The figure for extra-budgetary funds was 89.4%," he said.
He said collection rate of duties and taxes amounted to 100.03%.
Instead of projected 314 billion drams, tax authorities collected
314.1 billion drams. The authorities also collected 60.865 billion
drams in mandatory social payments, up from projected 60 billion drams.
"This all are government revenues, a total of 383.65 billion drams,
which make 100.8% of the projected amount," he said.
As for expenditures, according to the chief treasurer, they were
projected at 458.6 billion drams, of which 443 billion drams were to
be funded by the state budget, but during the reporting period these
expenditures were performed by 90% and 52% respectively.
He noted that the annual deviation of expenditure was about 2-3%,
which is considered normal resulting from savings due to extension
of deadlines for implementation of some projects. He said it was a
concern, but concrete steps are taken to minimize the deviations from
the projected spending targets. ($ 1 - 364.42 AMD).