The growth of minimum wage in Armenia in 2015 helped collection of income tax in the first quarter of 2016, Deputy Chairman of the State Revenue Committee (SRC) of Armenia, Armen Alaverdyan, said Tuesday at the session of the parliamentary Committee on Financial-Credit, Budgetary and Economic Affairs.

In his words, over 3.97 bln AMD or 5.9 percent income tax was collected during the reporting period. This is generally explained by the growth of minimum wage from 50 to 55,000 AMD (approx. $115) since the second half of 2015. The declared income of the workers in the private sector has also slightly grown. 

Overall, the collection of income tax made up nearly 71.86 AMD (approx. $150 mln) or about 28 percent of all the state revenues.