Armenian Government To Claim Additional Revenues From Taxes

The Armenian government is planning to increase the amount of tax revenues in the gross domestic product (GDP) revenues in the State Budget 2011; however, some economists believe that it is not an effective means to combat Armenia's shadow economy.

According to the Minister of Finance of Armenia Tigran Davtyan, the GDP revenues for 2011 are envisaged to be about 850 billion drams (about $2.3 million), 650 billion drams (about $1.8 million) out of which will be tax revenues, in contrast to this year's 570 billion drams ($1.5 million).

"Taxes-GDP relation will also be improved next year. Last year it was 16.8 percent, and this year it will be 17.1 percent, and for the next year a 0.2-0.3-percent increase is expected [17.3-17.4 percent]," the finance minister says.  Read more... (276 words)

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