Armenian tax authorities collected 1 trillion 412 billion drams ($3.6 billion) in various taxes in the first nine months of 2022, the highest ever amount of taxes collected in the same time span in previous years, the State Revenue Committee (SRC) said.
According to it, the authorities collected 77 billion drams or $194 million more (5.8%) than projected for 9 months of the year. Tax revenues collected in the first nine months of 2022 exceeded the amount of taxes collected in the first 9 months of 2021 by 275 billion ($692 million) or 24.2%, which is the highest growth rate in recent years.
The largest contributors were the mining industry (8%), tobacco production (3.7%), banking and software (3.1% each), and electricity and gas supply sector (3%).
Some 468.1 billion drams ($1.2 billion) were collected as VAT (22% increase against the same period in 2021), 85.1 billion drams ($214 million) as excise taxes (12% increase), 192.5 billion drams ($484 million) as profit taxes (46% increase), 29 billion drams ($73 million) as turnover taxes (28% increase), 348.5 billion drams ($877 million) as personal income taxes (9% increase).
Also, 90.7 billion drams ($228 million) were collected as state duties (a 163% increase), 40.9 billion drams ($103 million) as customs duties (35% decline), and 71.5 billion drams ($180 million) as environmental taxes and payments for subsoil use (a 49% increase).
Some 172 billion drams ($433 million) were refunded to corporate and individual taxpayers, 39.7 billion ($100 million) or 30% more than in the same period last year, ARKA reports.
