LEVEL OF COLLECTION OF TAXES AND OTHER MANDATORY PAYMENTS TO STATE BUDGET REDUCES DOWN TO 60.1% IN ARMENIA IN JANUARY 2009

ARKA
March 23, 2009

YEREVAN, March 23. /ARKA/. The level of collection of taxes and other
mandatory payments to the state budget reduced down to 60.1% in Armenia
in January 2009 against January 2008, says the analysis of summarized
indicators in the monitoring of major taxpayers for January 2009
posted on the official website of Armenian State Revenues Committee.

According to the information, the reduction is recorded due to direct
dependence of this level on the sales, exports and imports that have
also fallen over the period under review.

Three organizations – K-Telecom (VivaCell-MTS brand), ArmRosgasprom
closed joint stock company and ArmenTel – transferred to the budget
a total of 3.4bln Drams, which is a reduction of 84.2% as compared
with the same period of last year.

Armenian State Revenues Committee developed and analyzed the summarized
indicators of monitoring of tax payments by major taxpayers in January
2009, guided by the tax administering strategy of the Republic of
Armenia for 2008-2011 to ensure transparent, uniform tax conditions
for major business to improve tax and customs administering.

Monitoring was carried out among 325 major taxpayers in Armenia at
the end of January 2009.($1=372.02Drams).