Armenia’s communities earned 94.5 billion drams in 2012

Armenia’s communities earned 94.5 billion drams in 2012

YEREVAN, December 28. /ARKA/. Revenues of community budgets in Armenia
hit 94.5 billion drams versus the projected 105.5 billion drams under
the 89.2% percent implementation in 2012, Vice Premier and Minister
of Territorial Administration Armen Gevorgyan told reporters Friday
summarizing the year.

Own-source revenues of the communities accounted for 29.1% of the
total revenue or 27.5 billion drams.

`The projected revenues from the land tax are implemented at 85.5% and
the actual revenues stood at 4.1 billion drams. Through the property
tax the communities collected 11.6 billion drams versus the forecasted
12.6 billion drams,’ he said.

Minister also reminded that in March 2012 the government approved the
tax package which authorizes writing off the bad debts on property
and land taxes effective till 1 January 2008.

Individuals who had debts from 2008 to 2011 will be exempted from
fines and penalties, and if they have already paid penalties and
fines, this amount will be contributed into covering the debt or taxes
in the future. The law doesn’t refer to those whose debts account to
over 2 million drams.

Gevorgyan said the authorities collected 424.8 million drams as of
December 1, 2012 as a result of the new tax package roll-out.
According to him, 254.4 million drams in fines and penalties was
written off.

`As to property tax, the communities collected 410.2 million drams,
and the written off amount stood at 300.8 million drams,’ he said and
added that 49,037 people enjoyed the introduced benefits.

Gevorgyan mentioned capital urgent expenditures of the government
stood at 20 billion drams in 2012 ( the same as in 2011).

`As a result, in 394 communities we implemented 731 programs. The
funds were injected into the repair and reconstruction of school and
pre-school establishments, hospitals, culture houses, community
centers, roads, irrigation and water supply systems, and gas
distribution,’ Vice Premier resumed. ($1 – 403.27 drams). -0-