Armenia government revenue collection rate improves by 10.5 percent in first quarter

YEREVAN, April 7. /ARKA/. Armenian tax authorities collected a total of 255 billion drams in taxes and customs duties in the first quarter of 2017, by 24.3 billion drams (10.5%) more than in the same time span of 2016, the State Revenue Committee (SRC) said.

According to the SRC, the tax collection rate grew by 11.6% or 20.3 billion drams, to 196 billion drams, while the customs duties collection rate increased by 7.3% or 4 billion drams to 59 billion drams.

The SRC attributed the growth to the introduction of a system for private analysis of taxpayers, designed to track down tax dodgers. It also said the overall number of inspections in the first quarter of 2017 fell by 44% when compared to the same period in 2016.

At the same time, the average amount of a tax liability as a result of one inspection in the first quarter of this year amounted to 4.4 billion drams, up from 868,900 drams in the first quarter of 2016 (an increase of 410%). Taxes paid by large taxpayers increased by 13.9 billion, or 13.8%, to 114.5 billion drams. -0-

spot_img

POPULAR

Euro and dollar exchange rates fall against Armenian dram

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of April 15, 2026, decreased by 0.71 points compared to April 14, to 374.48 drams.

Net remittance inflow to Armenia from abroad increased approximately 3.5-fold in two months

The net inflow of non-commercial money transfers to Armenia, from abroad through the Armenian banks amounted to $303 million in January-February 2026, compared to $87.5 million in January-February 2025, according to a report from the Central Bank.

KPMG’s audit of Renshin confirms the accuracy of its financial statements – CFO

“The audit confirms key parameters such as capital adequacy, liquidity, and asset quality՞, said Kristine Chichyan, the company’s CFO.

Armbanks Weekly Digest: Key Events in Armenia’s Financial Market (April 6-12)

Last week, the Armenian financial market focused on, among other things, statements by the Central Bank's management on macroeconomic risks, assessments of the possible inflationary impact of external shocks, discussions of stablecoins, and the development of regional payment infrastructure.

Byblos Bank Armenia joins FinTech Armenia as Founding Member

Byblos Bank Armenia has joined FinTech Armenia Association as a Founding Member, marking a significant milestone in the Bank’s ongoing efforts to drive digital transformation and innovation within the financial sector.

LATEST NEWS

spot_imgspot_imgspot_img