PRIME MINISTER SAYS THE INCREASE OF THE REVENUE TAX IN THE GENERAL STRUCTURE OF TAX INFLOWS TESTIFIES OF THE REDUCTION OF THE SHADOW IN THE ECONOMY

ARMENPRESS
July 23, 2009

YEREVAN, JULY 23, ARMENPRESS: Instead of 11.9% of the same period 2008
during the first semester of this year the revenue tax reached 16%
in the overall structure of tax inflows, during today’s session of
the Government Armenian Prime Minister Tigran Sargsian noted.

According to him in the conditions of the economic fall, when the
level of the profitability decreases, in reality it should not have
occurred. v Whereas according to him the situation changed and the
increase of the inflows for the revenue tax speaks about the reduction
of volumes of the shadow in the economy.

T. Sargsian said that the studies show that the shadow mainly exists in
the inner economy and the opportunities of increase of the revenues in
the customs sphere are small. The fact that the State Income Committee
was able to increase the volumes of the revenue tax testifies that the
shadow economy is reduced in the state. The increase of the commodity
circulation volumes registered during the latest period also testifies
of it.

T. Sargsian expressed hope that the tendencies will be continuative,
especially in the cases when the shadow in the economy is not
drastically eliminated.

The Prime Minister also informed that during the first semester of
this year the taxes-GDP ratio was succeeded to be increased for 0.5%
instead of the intended 0.4%.

The intended achievement was to take place in the conditions of the
economic growth of nearly 8% but it was possible to reach in case
of the 16% of economic fall. The Prime Minister considers it a heavy
task which was possible to be implemented and which must be assessed.