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Finance chiefs are considering the possibility of cutting down the number of tax regimes and excluding the institute of exceptions in Armenia to simplify the complicated taxation system in the country, Acting Finance Minister Atom Janjughazyan said on Friday.

“We will take efforts towards income tax, profit tax and dividends and have already reached a consensus on adopting a systemic approach [on the issue] as a result of discussions. We have also undertaken to comply with the taxation regimes within the frames of the EAEU,” he said at a joint session of the parliament’s Standing Committees on Economic Affairs and Financial-Credit and Budgetary Affairs.

Janjughazyan also unveiled his ministry’s plans to re-consider the gaming tax regulations, since the taxes applied in the sphere do not depend on income levels. “Discussions are underway to create an income-based tax system. Obviously, it takes some time and investments,” he said.

He says taxpayers should consider the country as their partner, since the economy can also be managed thanks to the state efforts.

“Taxpayers should realize that they pay for a specific service; they should be willing to pay and be in demand of the services that the state must provide to its citizens,” the official said.

He called attention to the fact that tax revenues comprise some 94 percent of the total state budget revenues.