YEREVAN, JANUARY 13, ARMENPRESS. The State Revenue Committee has collected 1 trillion 464,3 billion drams in tax revenue in 2019 (1 trillion 507 billion without taking into account the 42,8 billion in VAT debit returns to businesses) – outperforming the indicator by more than 100 billion drams, according to State Revenue Committee Chairman Davit Ananyan.

“An indicator of 6 trillion 756 billion drams GDP was at the basis of the 2019 government budget, 20,75% or 1 trillion 401 billion 900 million of which was planned as tax revenues. This means, during 2019 it was planned for us to generate around 6,7 trillion GDP, 20,75% of which was to be re-distributed in the society in the form of taxes. The factual performance totaled 1 trillion 464,3 billion drams (absolute over-performance – 62,4 billion drams), if we take into account the nearly 42,8 billion drams in returns of VAT old debts. If we don’t take into account the return, the factual indicator is 1 trillion 507 billion or the over-performance totals 105,2 billion drams”, Ananyan said.

The tax authorities began the VAT return process to business in late October and by yearend 42,8 billion drams were returned.

Edited and translated by Stepan Kocharyan