Tweet
ARF SAYS PROPOSED INCREASE IN 2012 REVENUES SHOULD BE COLLECTED FROM LARGE BUSINESSES AND SHADOW SECTOR
ARKA
Oct 28, 2011
YEREVAN, October 28. / ARKA /. A parliament member from the
opposition Armenian Revolutionary Federation (ARF) said today the
proposed increase in next year's revenues should be collected from
large businesses and shadow sector. The draft 2012 budget calls for
a 101 billion increase in revenues which is supposed to be secured
by improved tax administration and increase of tax rates.
Speaking at parliament briefing, Hrayr Karapetyan said the proposed
rise in tax revenues is feasible, but added that the main burden
should be on big businesses and the informal sector.
"If tax revenues will be increased at the expense of small and medium
businesses, we will be against it," said Karapetyan.
He also urged the government to strengthen control over the privatized
entities. According to him, the government should challenge the
privatization agreement in the event of its owner's failure to respect
their social commitments, in particular job creation.
The head of another parliamentary opposition party's faction,
Zharangutyun (Heritage) Stepan Safarian, said the government's plan
may affect small and medium businesses.
"We have already bitter experience ... Even children understand that
the tax increase will be a new burden on small and medium businesses,"
he said.
The 2012 draft budget approved by the Cabinet, calls for 910 billion
drams in revenues and 1.042.5 trillion drams in spending. The projected
deficit is 132.5 billion drams. The revenue is projected to increase
by 6.8% from this year's budget (852.4 billion drams) and the spending
is expected to grow by 41.5 billion drams.
ARKA
Oct 28, 2011
YEREVAN, October 28. / ARKA /. A parliament member from the
opposition Armenian Revolutionary Federation (ARF) said today the
proposed increase in next year's revenues should be collected from
large businesses and shadow sector. The draft 2012 budget calls for
a 101 billion increase in revenues which is supposed to be secured
by improved tax administration and increase of tax rates.
Speaking at parliament briefing, Hrayr Karapetyan said the proposed
rise in tax revenues is feasible, but added that the main burden
should be on big businesses and the informal sector.
"If tax revenues will be increased at the expense of small and medium
businesses, we will be against it," said Karapetyan.
He also urged the government to strengthen control over the privatized
entities. According to him, the government should challenge the
privatization agreement in the event of its owner's failure to respect
their social commitments, in particular job creation.
The head of another parliamentary opposition party's faction,
Zharangutyun (Heritage) Stepan Safarian, said the government's plan
may affect small and medium businesses.
"We have already bitter experience ... Even children understand that
the tax increase will be a new burden on small and medium businesses,"
he said.
The 2012 draft budget approved by the Cabinet, calls for 910 billion
drams in revenues and 1.042.5 trillion drams in spending. The projected
deficit is 132.5 billion drams. The revenue is projected to increase
by 6.8% from this year's budget (852.4 billion drams) and the spending
is expected to grow by 41.5 billion drams.