Armenian government plans to boost tax collection in 2012 by upping major businesses’ taxation, working to decrease shadow economy, and improving tax administration, Armenian Prime Minister said.

“In draft budget for 2012, the government suggests a bold step - increasing tax share in GDP by 0,6%,” Tigran Sargsyan said, stressing that taxation increase will refer to major businesses, rather than medium and small ones.

As PM also noted, a law on earth deposits will be adopted before yearend to boost tax proceeds.

According to Sargsyan, the measures described are meant to enable support for medium and small businesses, as well as solve a number of social issues, including 10% pension raise.