Profit Tax Grows By 28.2%, Income Tax - By 4.3% In January-February

[Tadevosian Garnik]

PROFIT TAX GROWS BY 28.2%, INCOME TAX - BY 4.3% IN JANUARY-FEBRUARY 2007 ON SAME MONTHS OF LAST YEAR

Noyan Tapan
Apr 03 2007

YEREVAN, APRIL 3, NOYAN TAPAN. In January-February 2007, 13.8% of tax
revenues of the RA state budget was ensured at the expense of profit
tax, which amounted to 8.4 bln drams (over 23 mln USD). According
to the RA Ministry of Finance and Economy, the tendency of a high
growth in collection of this tax continued in 2007: its collection
grew by 34.8% or about 2.2 bln drams on the same period of 2006. The
growth was mainly conditioned by a growth of payments of non-state
enterprises, as well as by an increase in profit tax paid in the
amount of 1% of turnover based on the requirement of the minimal
profit tax payment. In the period under review, the amount of income
tax collected into the RA state budget made over 5.3 bln drams, which
by 4.3% or 220.2 bln drams more that revenues of the same period of
last year. Most of income tax was received from revenues from execution
of labor and civil contracts which amounted to about 5 bln drams. In
January-February 2007, customs duty revenues made over 3 bln drams,
which exceeded by 23% or 563.9 mln drams the respective index of 2006.