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The Chairman of the RA State Revenue Committee Eduard Hakobyan presented for debate in the parliament the report on the activities of the State Revenue Committee (SRC) of the Republic of Armenia for 2024.

In the reporting year, the tax revenue collection amounted to 2 trillion 391 billion, which is 117 billion or 5.1 percent more than the previous year. The tax/GDP ratio was about 23.5 percent; a decrease of 0.5 percentage points was recorded. This was due to decreases in some products, as well as the transfer of taxes in some sectors, in particular, banking and construction. According to the rapporteur, the situation has now changed significantly: for January-August, there is an increase in tax revenues exceeding 14 percent. It is ahead of economic developments.

The SRC Chairman spoke about the effective work of the department in the field of administration, personnel changes, the fight against corruption, and steps towards reducing the shadow economy.

An 11.2 percent increase was recorded in the tax authority collections, while a 15 percent decline was recorded in the customs, which, according to Eduard Hakobyan, is due to imports. As for the tax authority, according to the SRC Chairman, collections have even been ahead of economic developments.

It was noted that approximately 30-40 billion drams of additional shadow income is taken out of the shadows annually, and this trend has been maintained in 2024.

According to the assessments carried out, in 2024, about 83 percent of the tax authority is satisfied with the work carried out, and about 79 percent of the customs authority.

Speaking about the reforms implemented in 2024, the SRC Chairman informed that new shadow assessment tools have been introduced, the tax risk analysis system has been improved, and the programmes to increase sectoral discipline have been implemented. The risk analysis toolkit for the customs authority has been improved, and reforms have also been implemented in the area of ​​digitalisation, including the income declaration platform. Eduard Hakobyan also spoke about the measures to boost foreign trade.