YEREVAN. – The donor partners of Armenia were proposing to show revenues that we can pay these loans, and they were not satisfied with the pure inflow that we will take out of the shadow to the economy.

Prime Minister Karen Karapetyan, who is also first deputy chairman of the ruling Republican Party of Armenia, on Thursday stated the aforesaid on the air of a local TV program.

When asked what the reason for adoption of a new Tax Code was and whether the tax reforms will continue, Karapetyan responded that the old Tax Code had the “right to live” and it was not that bad.

Reflecting on the activities of the Center for Strategic Initiatives of the government, the PM stressed that their first reform was with respect to tax and customs administration. In this connection, he highlighted that personal income in Armenia has increased by 10.6 percent in the first two months of the current year, as compared with the previous year.

“But even these numbers don’t make me happy as much as the content, because we don’t charge a deposit,” added Karen Karapetyan. “We really are working against shadow [economy] because most of these numbers are numbers that came from the shadow. The tax arena should be maximally simplified; the more complicated [it is], corruption risks [are] that much more.”