Government budget receipts from large businesses shrink by AMD 10 billion in 1st H 2016
Armen Alaverdyan, deputy head of the Armenian State Revenue Committee, said Thursday that as a whole tax revenue shrank by 30 billion mainly because of reduction in receipts from mining industry as well as communication, energy and banking sectors.
“In accordance with the key principles of the Armenian State Revenue Committee, emphasis is put on ensuring receipts from large businesses – 54.7% of the total revenue was ensured by large taxpayers in Jan-June 2016 against 53.7% at the first half of the previous year,” he said.
In his words, the receipts grew by AMD 21.7 billion.
Alaverdyan said that a soft administration policy was pursued toward small and mid-scale businesses and tax control instruments were reconsidered and systematized. This enhanced the effectiveness of inspections and targeted control.
After reorganization of the State Revenue Committee, 3,000 small and medium enterprises underwent inspections. Their contribution to the government budget tax revenue grew by AMD 1.7 billion in Jan-June 2016, compared with the same period a year before.
Introduction of the system of targeted control reduced the number of inspections and as a whole the volume of surveillance work shrank 30%, Alaverdyan said.
Besides, in his words, the country’s tax agencies tightened grip on imports from the Eurasian Economic Union.
As a result, the effective administration not only offset impacts from negative factors, but also intensified the tax inflow.
The government tax revenue amounted to AMD 511.3 billion in Jan-June 2016 against AMD 500.3 billion at the same period of the previous year – 2.2% growth. ($1 – AMD 476.38). --0----