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The State Revenue Committee (SRC) implemented 1 programme and 11 measures in the financial year: The RA Minister of Finance Vahe Hovhannisyan said this at the joint sitting of the NA Standing Committees on Economic Affairs and on Financial-Credit and Budgetary Affairs on May 31.

The annual report on the execution of the RA 2023 state budget was debated. The sitting was chaired by the Deputy Chair of the Standing Committee on Economic Affairs Babken Tunyan and the Chair of the Standing Committee on Financial-Credit and Budgetary Affairs Tsovinar Vardanyan.

According to the Minister of Finance, during the year, the measures increased by 3. According to the specified plan, 40 billion 249 million AMD was to be allocated for the project called Tax and Customs Services, the execution was 95%, and 3 billion 202 million AMD was actually spent.

The SRC Chairman Rustam Badasyan stated that the state budget revenues increased by 296 billion AMD or 15.4% in the financial year, in which the tax administration had a significant role.

Rustam Badasyan also touched upon the taxes/GDP indicator. “It will be 23.9%, which, if we include the mortgage loan income tax return in the calculation, is 0.84 percentage points more than the comparable indicators of the previous year,” Rustam Badasyan added, presenting the results of the expenses in detail.

The rapporteur mentioned that the customs border crossing points have been modernized. In particular, the Margara crossing point was built. With the support of the European Bank for Reconstruction and Development (EBRD) and the European Union, the works of reconstruction and modernization of the Meghri border crossing point are being carried out.

The MPs asked the rapporteur questions regarding tax administration, simplification of export procedures, the issue of control over business entities, the possibility of lowering the turnover tax threshold or removing it altogether, the activities of small organizations engaged in bread production, the mobile phones imported into the country illegally, inspections in supermarkets, tax collection in the current year, etc.