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Armenian tax authorities collect 105,2 billion drams more than projected in 2019

13-01-2020, 11:41 Armenia » Economy
Armenian tax authorities collect 105,2 billion drams more than projected in 2019

13 January 2020, 11:41 - NovostiNK
The State Revenue Committee has collected 1 trillion 464,3 billion drams in tax revenue in 2019 (1 trillion 507 billion without taking into account the 42,8 billion in VAT debit returns to businesses) – outperforming the indicator by more than 100 billion drams, according to State Revenue Committee Chairman Davit Ananyan.

“An indicator of 6 trillion 756 billion drams GDP was at the basis of the 2019 government budget, 20,75% or 1 trillion 401 billion 900 million of which was planned as tax revenues. This means, during 2019 it was planned for us to generate around 6,7 trillion GDP, 20,75% of which was to be re-distributed in the society in the form of taxes. The factual performance totaled 1 trillion 464,3 billion drams (absolute over-performance – 62,4 billion drams), if we take into account the nearly 42,8 billion drams in returns of VAT old debts. If we don’t take into account the return, the factual indicator is 1 trillion 507 billion or the over-performance totals 105,2 billion drams”, Ananyan said.

The tax authorities began the VAT return process to business in late October and by yearend 42,8 billion drams were returned.


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