YEREVAN. – In 2011, and as expected by the State Budget, 650 billion Armenian drams (AMD) of taxes and duties were collected for the state budget, Armenian State Revenue Committee’s official website informs. And this indicator surpassed that of 2010 by 10 percent.     

Tax revenues comprised AMD 370 billion, which is 9.8 percent more than the previous year.

The mandatory social security payments constituted AMD 123, which surpasses the 2010 indicator by 6.8 percent.

The customs payment revenues formed AMD 280 billion, which is 9.6 percent more than in 2010. 

Also, the share of direct taxes continued to grow in 2011 and comprised more than 48 percent of Armenia’s tax revenues.  

To note, in line with the current exchange rate US$ 1 is equivalent to approximately AMD 386.