Armenia to Face Major Challenges in Tax Collection, Says PM

YEREVAN (Arka)–Armenia is going to face major challenges in collecting taxes this year, Prime Minister Tigran Sargsyan said Wednesday.

“We are quite aware that 2009 is going to be the toughest year for us, with the global crisis changing the situation and causing major hurdles in tax collection,” the premier said, adding the government must stick to its tax collection program.

Sargsyan said there will be difficulties in executing the government’s reforms amid the economic downturn.

“Reforms are better carried out in more prosperous times,” Sargsyan said, adding the strained economic situation hinders execution of reforms.

“Without other agencies’ help, the State Revenue Committee will not be able to shoulder the heavy burden,” the prime minister said, stressing the need for joint efforts to weather the crisis.

According to Armenia’s 2009 budget, government receipts are expected to be $2.9 billion, while expenditures are forecasted at $3 billion, with a $130 million deficit.

Tax proceeds for 2009 are expected to reach $2.3 billion, up from last year’s $1.9 billion.

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