PROFIT TAX REVENUES MAKE UP 14.3% OF TAX REVENUES OF ARMENIAN STATE BUDGET IN JANUARY-NOVEMBER 2008

Noyan Tapan

Jan 14, 2008

YEREVAN, JANUARY 14, NOYAN TAPAN. Profit tax revenues of 79.1 bln
drams (about 258.7 mln USD) made up 14.3% of the tax revenues of the
RA state budget in January-November 2008. Profit tax revenues grew
by 20.4% or 13.4 bln drams on the same period of 2007, which was
mainly conditioned by a growth of profit tax paid by financial and
credit organizations, as well as of the payments in the amount of 1%
of the minimum profit tax made by nonstate organizations.

According to the press service of the RA ministry of finance, income
tax revenues of the RA state budget amounted to 47.3 bln drams, making
up 8.6% of the tax revenues and exceeding by 17.3% or about 7 billion
drams the index of the same period of the previous year. The income
tax from salaries and other payments equated with them was the main
source of this growth.

The greatest growth was recorded in customs duty revenues. They made
34.3 bln drams, exceeding by 56.2% or 12.4 bln drams the index of
the same period of 2007 and making up 6.2% of the state budget’s tax
revenues in the indicated period of 2008.

Fixed payments amounted to 18.4 bln drams in the first eleven months
of 2008, exceeding by 13% or 2.1 bln drams the index of the same
period of 2007. This growth was mainly due to a growth of revenues
from gas filling stations, trade points and commercial activity,
operation of casinos, and playing machines.

Simplified taxes of 6.1 bln drams were transferred to the state budget
in January-November 2008. This index declined by 32% or 2.9 bln drams
as compared with the same period of 2007, which was conditioned by
the amendments in the RA Law on Simplified Tax, by which on January 1,
2008, the number of activities, from which simplified tax is charged,
was reduced, as well as some restrictions for organizations and
persons engaged in commercial activities are envisaged.