Time in Yerevan: 11:07:36,   26 May

Armenian government plans to provide 2.5% tax revenue-GDP ratio growth during five years

YEREVAN, JUNE 19, ARMENPRESS. The government of Armenia plans to ensure tax revenue stability, planning a 2,5% increase of tax revenue and GDP ratio during the upcoming five years.

The government’s action plan, which was approved at the Cabinet meeting and submitted to the Parliament for debates, says that tax and customs systems must be efficient and must have the necessary capacities for reducing the black market and improving the business environment.

It says that as result of consistent administration of tax and customs agencies, the struggle against illicit businesses must be heightened.

In this context, the main approach lies in using the control tools exclusively against dishonest taxpayers, while the ongoing inspection of tax agencies will be transferred to the e-control platform.

In terms of improvement of the business environment, the highlights include maximum facilitation of procedures for taxpayers and exporters, and improvement of services for taxpayers.

At the same time, the taxation of raw materials and equipment will be gradually transferred from the border to the domestic economy.



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