SRC Chairman presents financial indicators designed by state budget 2025

The implementation of the tax and customs administration goals is a resolution: to provide qualified services for taxpayers and to reduce the shadow. I happily record that, according to the estimates of the Ministry of Finance and the State Revenue Committee (SRC) the shadow economy has decreased during the last three years. The Chairman of the RA State Revenue Committee Rustam Badasyan said this.

At November 4 joint sitting of the RA NA Standing Committees on Economic Affairs and on Financial-Credit and Budgetary Affairs the SRC Chairman presented the financial indicators designed by the draft budget 2025.

"All our improvements take place by the positive impact of the economy factors and as a result of administrative improvement. It is remarkable that taxes/GDP indicator will be 25% by the results of 2025 from the 22.6% of 2020. That is, we'll reach the target defined by the Government," the Chairman of the Committee detailed.

The current costs of the SRC will be reduced by the draft budget 2025. The current costs will be 26.2 billion AMD, decreasing by 11.4% compared with 2024.

According to the data of January-September 2024, the collected tax revenues were 1 trillion 767 billion AMD.

Presenting the reforms being implemented in the system, Committee Chairman noted that the reforms of the customs and tax administration will be continuous aimed at creating more convenient systems.

Rustam Badasyan answered the MPs' questions, gave clarifications on the steps undertaken for promoting the facilitation of the trade, self-employment in the customs clearance process, as well as regarding the introduction of special taxation systems.

Touching upon the observation that there are manifestations of the tax 'terror' in the Republic of Armenia, the SRC Chairman answered: "There is tax 'terror' in Armenia, On the contrary, our administration is aimed at providing good conditions for taxpayers. We work in partnership with all taxpayers of Armenia."