After two days of heated debates, the Armenian parliament tentatively approved on Friday a government proposal to raise taxes collected from alcohol, tobacco and fuel.
A relevant government bill passed by the National Assembly in the first reading envisages roughly 10 percent increases in the rates of excise tax on sales of alcoholic beverages, cigarettes, gasoline and diesel fuel. It also introduces the same duty for liquefied natural gas used by at least half of the vehicles in Armenia.
Presenting the bill, Deputy Finance Minister Vakhtang Mirumian said it will earn the Armenian government 9 billion drams ($19 million) in extra tax revenue. The figure is equivalent to less than 1 percent of the government's entire budgetary revenue projected for this year.
Armenian News
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