PROFIT TAX REVENUES OF STATE BUDGET GROW BY 26.4%, INCOME TAX REVENUES BY 24.4% IN JANUARY 2008 ON SAME MONTH OF LAST YEAR

Noyan Tapan
March 10, 2008

YEREVAN, MARCH 10, NOYAN TAPAN. In January 2008, profit tax revenues
made up 11.7% of the tax revenues of the RA state budget. Profit tax
revenues amounted to over 4.4 bln drams (over 14.34 mln USD) in the
indicated period, growing by 26.4% or 924 mln drams on the same month
of last year. The growth was mainly conditioned by an increase of
payments made by the orgaizations founded with foreign investments,
as well as by an increase in profit taxes paid at 1% interest rate –
based on the requirement on payment of the minimum profit tax.

According to the press service of the RA ministry of finance and
economy, income tax revenues of the RA state budget made about 2.7
bln drams in January 2008, exceeding by 24.4% or 526 mln drams the
index of January 2007.

The revenues received from execution of labor and civil agreements
were the main source of the growth.

There was a growth in customs duties in January 2008. Their total
amount made about 2 bln drams, exceeding by 29% or 441.5 mln drams
the index of January 2007.

Fixed payments amounted to 1.3 bln drams, which is more by 4.5%
or 56.1 mln drams than the respective index of 2007. The growth was
mainly conditioned by an increase in payments for the organization
of places for gas filling and trade, and for public catering and
casino activities.