Armenian Taxes in 2006 in the Billions...of AMD!

Every country has to have a hated agency. Of course, in the United States it's the Internal Revenue Service, charged with making your life a living hell full of numbers, exceptions, and lots of paper! But don't worry: Armenians aren't exactly green with envy, because they've got the same at home!

The RA Taxation Service collected a total of AMD 220.683bln (about $605 million) taxes instead of the planned AMD 220.417bln...

He said that tax revenues actually increased by AMD 47bln ($128 million) compared to 2005. Tsolakyan stressed that a steady increase in tax revenues have been recorded in Armenia over the last few years.

Tsolakyan stressed that the RA taxation Service focused its attention on construction, mining industry, gas and public catering.

So if you run a prostitution ring, you get off without a hitch.

Source: Arka

Robert Kocharyan Urges Fight Against Shadow Economy

From the horse's mouth:

The country's taxation and customs services do not show due eagerness in struggling against the "shady" economy. Kocharyan pointed out the impropriety of reminding the services of the large volume of "black" economy and their duties. Although certain progress has been recorded in the sphere, the process is far from being satisfactory, Kocharyan said.

The country's president and the government will have higher requirements towards the work of the taxation and customs services in 2007, Kocharyan said.

Oh, by the way, the term "shadow economy" is used to describe any business that is illegal, in terms of under-reporting taxes, illegally importing goods without paying fees, and so on.

One has to wonder how much Kocharyan has at stake!

Source: Arka