TAX REVENUES OF STATE BUDGET GROW BY 25.5%

Noyan Tapan
May 31 2007

YEREVAN, MAY 31, NOYAN TAPAN. In January-April 2007, tax revenues
of the RA state budget made 127.2 bln drams (about 457.6 mln USD),
which ensured the fulfilemnt of the program for first half of 2007 by
64.6%. According to data of the RA Ministry of Finance and Economy,
tax revenues grew by 25.5% on the same period of last year. High
growth rates were registeted with respect to all types of taxes,
except for excise tax.

46% of tax revenues was collected at the expense of VAT which amounted
to 5 8.5 bln drams. Out of this sum, over 35.9 bln drams was received
from taxation on the Armenian borders, 22.6 bln drams – from domestic
turnover of goods and services. VAT revenues grew by 35.3% or 15.3
bln drams on January-April 2006.

8.9% of tax revenues was received at the expense of excise tax,
which amounted to 11.3 bln drams. Particularly, 7.9 bln drams was
received from taxation of imported excise taxable goods, including
3.5 bln drams – from taxation of gasoline and diesel fuel, and 3.4
bln drams was received from taxation of imported cigarettes. State
budgetary revenues from taxation of excise taxable goods produced in
Armenia made 3.4 bln drams, including 1.2 bln drams – from the sale
of cigarettes made in the country. Budgetary revenues from excise
tax declined by 1.5% or 175.1 mln drams on the same period of 2006,
due to a decline in revenues from the sale of alcoholic drinks made
in Armenia and cigarettes.

Profit tax revenues made over 26.4 bln drams or 20.8% of tax revenues
in January-April 2007. The high growth tendency with respect to profit
tax revenues continued: they increased by 25.4% or 5.4 bln drams on
the same period of last year. A considerable growth was registered
in payments by non-state enterprises, including organizations with
foreign capital.

Income tax revenues of the RA state budget amounted to 11.6 bln drams,
which made up 9.1% of tax revenues. Most of income tax revenues was
received as revenues from execution of labor and civil agreements,
which made 10.9 bln drams. Income tax revenues grew by 14.8% or 1.5
bln drams on the same period of 2006.