PROFIT TAX REVENUES OF STATE BUDGET GROW BY 34%, INCOME TAX REVENUES BY 22.9% IN JANUARY-FEBRUARY 2008 ON SAME PERIOD OF LAST YEAR

Noyan Tapan
April 3

YEREVAN, APRIL 3, NOYAN TAPAN. Profit taxes amounted to over 11.2 bln
drams (36.4 mln USD) and made up 14.3% of the RA state budget’s tax
revenues in January-February 2008. Profit tax revenues grew by 34%
or 2.9 bln drams as compared with the same period of 2007, which was
mainly due to an increase of payments made by nonstate organizations,
including organizations with foreign investment, and financial and
credit organizations.

According to the RA ministry of finance and economy, income
tax revenues of the state budget made about 6.6 bln drams in
January-February 2008, exceeding by 22.9% or 1.2 bln drams the index
of the same period of last year. Revenues from execution of labor
and civil agreements were the main source of this growth.

A considerable growth in customs duties was also registered in the
indicated period. Theit total amount made over 4.2 bln drams, exceeding
by 40.7% or 1.2 bln drams the index of January-February 2007. Customs
duty revenues made up 5.4% of the state budgetary revenues.

Fixed payments made over 2.6 bln drams, or by 2.3% more than the
respective index of 2007, which was mainly conditioned by an increase
of revenues from gas filling stations, trade facilities organization,
casino and public catering activities. At the same time, revenues
from organization of lotteries and monetary prize games and from
transport activity declined.

Simplified taxes of 1.3 bln drams were transferred to the state budget
in the first two months of 2008. Their amount increased by 12.8%
or 189.8 mln drams on the same months of 2007.

From: Emil Lazarian | Ararat NewsPress