06.11.2013 18:15
YEREVAN, November 6. / ARKA /. The Armenian government collected 785.6 billion drams in revenue in the first nine months (100.1 percent of the projected amount) and spent 709.8 billion (91.6 percent of the projected amount), the ministry of finance said.
It said 94.4% of revenues (741.6 billion drams, 18 percent rise year-on-year) generated from taxes and state dues, 4.9 % were collected from other sources of income and 0.7 % came as official grants.
The ministry attributed the growth in tax revenue to increased VAT collection rate and changes in tax legislation, introduced in 2013, which replaced income tax and mandatory social insurance payments by a single flat tax.
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