Tax Revenues and State Duties Decrease in State Budget

According to the newspaper "Joghovurd", it has become known that from January to August 2020, the tax revenues and state duties of the Republic of Armenia's state budget amounted to 887.5 billion drams, which is 76.5% of the figure approved for the nine months of 2020. It is noteworthy that the actual figure for 2020 is 5.3% lower than the corresponding figure for 2019, or by 49.9 billion drams, while the figure corresponding to 2018 exceeds it by 14.9% or 114.9 billion drams.

Additionally, the revenues from value-added tax during January-August amounted to 294.4 billion drams, which is 6.1% lower than the corresponding figure for 2019, but exceeds the 2018 figure by 9.7%. The revenues from profit tax amounted to 102.9 billion drams, which is 15.9% lower than the corresponding figure for 2019 and 5.2% lower than the figure for 2018.

Data published by the State Revenue Committee reveals that the results for 2020 are less than those of 2019; however, they are still higher than those in 2018. The reason for this decline is attributed to the coronavirus situation and the state of emergency, when the economy was effectively halted for several months.