YEREVAN, December 4. /ARKA/. Armenia’s budget revenues rose 9.1% or by 63 billion drams in January-October 2012 to 752.6 billion drams compared to the same period a year earlier, the head of budget feasibility analysis and reports department at Finance Ministry Gayane Zargaryan told reporters on Tuesday.
Such revenues proved 80.9% of the feasible budget management.
“The basic part of the revenues, 94.2% or 708.9 billion drams, were earned through taxes, duties and social insurance mandatory payments, which was 10.4% (66.5 billion drams) higher from a year earlier,” she noted.
Revenues from taxes raised due to hikes in the tax on profit, the income tax, VAT and environment protection charges. Some 5.2% of the revenues, according to her, came from the other sources, and 0.6%- from the state grants.
The revenues of Armenia’s state budget, approved on December 8, 2011, are projected at 911.6 billion drams, expenditures- 1044,1 billion drams, and the deficit- 132.5 billion drams.
Armenia’s National Assembly also approved a tax package targeted at ensuring 100 billion drams in additional budget revenues. Apart from luxury tax on cars with a market value of more than $90 thousand, the law implies increasing by 50% the tax on expensive alcohol drinks, the income tax hike by 25% for individuals with an income of 2 million drams or more, and up by 50 % of fixed payments for casinos. -0-
