Share of tax revenues up in Armenia in 2016, deputy minister says
In 2016, the revenue system has undergone certain changes in Armenia. The share of the tax revenues increased in the country, totalling to 92%, Deputy Minister of Finance Atom Janjughazyan said at the discussion of the annual report on Armenia’s state budget execution for 2016, Panorama.am reports.
In the minister’s words, the state budget was replenished with 1 trillion 80 billion AMD taxes and duties, which comprises for the 21.3% of the GDP. Whereas, according to Atom Janjughazyan, a 20.7% tax-to-GDP ratio was set for the year.
The deputy minster informed that the major part of the tax revenues made up 391 billion AMD paid in VAT, which totals to 36.2% of the tax revenues. To note, the income tax amounted to 332.7 billion AMD and the profit tax –127.2 billion AMD.