New taxation initiatives in Armenia

Armenia’s PM Tigran Sarkisian and his government initiated an increase of the taxation revenues by 0.6% as a proportion of GDP. By 2012 revenues from tax will reach 17.4%. This is the Sarkisian government's plan to combat the shadow economy. According to PM this will be a serious challenge for the Armenian government. It also envisages introducing extra taxes for luxury goods thus the wealthy will spend more on taxes than the poor.