Since 2023 programmes have been implemented, and one of them is the introduction of the physical persons’ unified declaration system, which will give an opportunity to more simplify their process through the introduction of the tools of paying the physical person’s income tax. The Minister of Finance Vahe Hovhannisyan said this, presenting the report on Procedure of Implementation Procedure and Results of 2023 of the RA Government Programme (2021-2026) at the extraordinary sitting of the NA Standing Committee on Financial-Credit and Budgetary Affairs.
The Committee Chair Tsovinar Vardanyan moderated the sitting.
Regarding the advantages of the programme, the Minister noted that the applicants will get an opportunity to get back from the money of the income tax annually up to 100.000 AMD on educational, social, health expenses – up to 50.000 for them and their family.
During the sitting Vahe Hovhannisyan underlined the increase of capital expenditures compared with the previous year, 2022. In 2023, the capital expenditures increased by 105 billion AMD, making 494 billion AMD: the number of the social and economic expenditures also increased, making about 209 billion AMD. The community investment programmes increased by about 46.6%, mid-term the taxation opportunities were assessed.
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According to the Minister, in the conditions of evaluating the dram on repurchase functions of the debt by currency aimed at the assessment of the optimal thresholds of the debt/GDP and the structure of the debt profitability of 7.15%, about 187 million USD of bonds were repurchased from the Euro bonds of repayment of 2025 with the volume of 500 million USD. It is intended for the decrease of refinancing risk. Numerous works have been done for the improvement of the taxes/GDP indicator and definition of the tax burden, including the rise of the rates of excise taxes.
The Minister also noted that the Ministry of Finance together with the International Currency Fund did a number of works, and analysis aimed at the efficiency of the tax privilege was made with their framework.
The rapporteur also answered the deputies’ questions.
The debate of the package on Making Amendments and Addenda to the law on Audit Chamber and the enclosed bills authored by the deputies the NA Civil Contract Faction deputies Arusyak Manavazyan, Narek Grigoryan and Edgar Hakobyan was postponed up to two months for revising it.
National Assembly of the Republic of Armenia
