PROFIT TAX AND INCOME TAX REVENUES OF STATE BUDGET INCREASE BY 15.4% AND 21.7% RESPECTIVELY IN JANUARY-MAY 2007 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
Jun 29 2007

YEREVAN, JUNE 29, NOYAN TAPAN. In January-May 2007, profit tax revenues
of the RA state budget made over 31.7 bln drams (about 88.3 mln USD)
or 19.6% of the tax revenues. The high growth rate tendency continued
in 2007: profit tax revenues increased by 15.4% or 4.2 bln drams on
the same period of last year. A considerable growth was registered
with respect to payments by non-state enterprises, including those
operating with foreign investments.

According to the RA Ministry of Finance and Economy, the income tax
revenues of the RA state budget made 15.5 bln drams in January-May
2007, which made up 9.6% of the tax revenues. Most of income tax
revenues was received as revenues from the execution of labor
and civil contracts which amounted to 11.9 bln drams. Income tax
revenues increased by 21.7% or 2.8 bln drams on the same period of
2006. Revenues from the execution of labor and civil contracts were
the main source of this growth.