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Armenian gov't plans to increase tax burden

28 September 2016 17:17 (UTC+04:00)
Armenian gov't plans to increase tax burden

By Rashid Shirinov

Several international financial donor organizations have imposed strict requirements to the Armenian authorities.

Under the requirements, tax revenues in Armenia should be increased by 60-70 billion drams ($127-148 million) annually, Panorama.am reported.

“Only in this case our country will be able to obtain new loans. Therefore, the Armenian government plans to increase tax burden under the new Tax Code,” Haykakan Zhamanak newspaper noted.

Although the new Tax Code has been included in the agenda of the extraordinary meeting of the Armenian Parliament, its modified version has not yet reached the Parliament.

The publication reported that the document will be sent to the Parliament only after the approval by President Serzh Sargsyan.

“Yesterday none of the deputies knew what changes had been made to this bill, because the discussion on the document took place in the government in a secrecy surrounding,” the newspaper stated.

Meanwhile, the state debt of Armenia keeps rising. The state debt of Armenia in the first half of 2016 made up $5.345 billion, thus increasing by 5.3 percent from the beginning of the year , according to the official statistics.

Triggered by this, the wages in the country keep falling down. Decline in public sector made up 3.5 percent as compared to the data of last year. In general, significant decrease in salaries has been observed throughout Armenia since April 2015. Salaries are declining in both public and private sectors.

So, in addition to these problems, from now on, Armenian citizens will have to pay even more taxes to their government. And they definitely will not like such a scenario.

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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

Follow us on Twitter @AzerNewsAz

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