{"id":250401,"date":"2022-06-15T11:33:13","date_gmt":"2022-06-15T11:33:13","guid":{"rendered":"https:\/\/armbanks.am\/2022\/06\/15\/250401\/"},"modified":"2022-06-15T11:33:13","modified_gmt":"2022-06-15T11:33:13","slug":"cutting-income-tax-rate-by-1-%affected-budget-revenues-in-2021-ministry-of-finance","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2022\/06\/15\/250401\/","title":{"rendered":"Cutting income tax rate by 1 %affected budget revenues in 2021 &#8211; Ministry of Finance"},"content":{"rendered":"\n<p><strong>YEREVAN, June 15. \/ARKA\/.<\/strong> In 2021 Armenian tax authorities collected more taxes and duties than in 2020, however, the decision\u00a0of the government\u00a0to cut the\u00a0personal\u00a0income tax rate by 1% led to a drop\u00a0in revenues by about 19 billion drams, Armenian Finance Minister Tigran Khachatryan said at Wednesday&#8217;s parliamentary session.<\/p>\n\n\n\n<p>According to him, the value-added taxes, which continue to account for the bulk of all collected taxes, contributed 35% of the budget revenue, followed by&nbsp;persoanl&nbsp;income&nbsp;taxes, which accounted for 27%, while the share of&nbsp;profit taxes&nbsp;amounted to&nbsp;10%.<\/p>\n\n\n\n<p>Khachatryan specified that 556 billion drams were collected in 2021 as value-added taxes, up 18% from 2020 or an increase of 84.4 billion drams, of which 53 billion drams were value-added taxes paid for imported goods and 31.4 billion drams were value-added tax&nbsp;colected&nbsp;from domestic turnover.<\/p>\n\n\n\n<p>The minister noted personal income taxes totaled 426 billion drams, an increase of 15 billion drams or 3.6 percent over 2020.<\/p>\n\n\n\n<p>Setting export duties on metal concentrates had a positive impact on tax revenues in 2021 as 24.6 billion drams additionally were collected, the minister said. Another positive factor, he said,&nbsp;was increasing by 1% payments by working citizens to the funded pension accounts, which grew by 18bln drams. ($1 &#8211; 419.63 drams) -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2021 Armenian tax authorities collected more taxes and duties than in 2020, however, the decision\u00a0of the government\u00a0to cut the\u00a0personal\u00a0income tax rate by 1% led to a drop\u00a0in revenues by about 19 billion drams, Armenian Finance Minister Tigran Khachatryan said at Wednesday&#8217;s parliamentary session<\/p>\n","protected":false},"author":1,"featured_media":162167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[511],"class_list":{"0":"post-250401","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-511"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=250401"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/162167"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=250401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=250401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=250401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}