YEREVAN. - Armenia will need to increase excise taxes.

Ms Teresa Daban Sanchez, the IMF resident representative in Armenia, said the aforementioned today at the conference “Enabling Environment for Sustainable Enterprises in Armenia,” which was organized by the International Labor Organization (ILO) and the Republican Union of Employers of Armenia (RUEA).

According to her, excise taxes are an important source to increase state revenues. Increasing the tax base (e.g. including compressed gas for as a vehicle fuel) and rates is by any means inevitable in the Eurasian Economic Union (EEU), where those rates are agreed to be converged in the coming years, while Armenia still employs considerably lower rates than other member states, she added.