This Year We Collected More Taxes, Minister Says

Compared to last year, we have collected more taxes this year. Rustam Badasyan, the head of the State Revenue Committee (SRC), stated this during a meeting of the National Assembly's Standing Committee on Financial-Credit and Budgetary Affairs.

According to Badasyan, there has been a 4.9% decrease in VAT. “But let’s look at which VAT has decreased. The amount collected by the customs body has decreased by 34.7%, an absolute decrease of 62.8 billion drams. This means that imports have decreased; the VAT paid at the border during imports is one of the fastest-collected tax types. Since imports have decreased, revenues have also decreased,” the minister noted.

He stated that the taxes collected by the tax authority have increased by 123 billion drams, which is a 14% rise, while revenues collected by the customs body have decreased by 25.2%.