The State Revenue Committee (SRC) of Armenia has returned 64 billion drams (over $164 million) to the state budget in the first five months of 2024, the head of the committee, Rustam Badasyan, reported in an interview with Public Television.
Badasyan expressed overall satisfaction with his department's efforts to combat the shadow economy. “The SRC effectively uses its tools to reduce the shadow economy,” Badasyan stated, noting that in the first five months of this year, the State Revenue Committee managed to return about 64 billion drams to the budget.
According to him, this amount is 20 billion drams (over $51.4 million) more than in the same period last year.
The head of the SRC observes a positive trend when comparing 2022 and 2023.
“This indicates the ongoing reduction of the shadow economy in Armenia. The improvement of our tools and investments in IT infrastructure enable us to more effectively identify and mitigate risks,” emphasized Rustam Badasyan.
Previously, BMG reported that the State Revenue Committee of Armenia published data on the increase in tax revenues in the first half of 2024. According to the department, during this period, the actual execution of tax revenues and state duties amounted to 1 trillion 187.6 billion drams (over $3 billion), which is 84.1 billion drams (over $210 million) or 7.6% more compared to the same period last year.
