In 2023, the Armenian government returned about 363 billion drams (over $930 million) to taxpayers, which is 100 billion drams (over $250 million) more than in 2022. This was reported by Rustam Badasyan, Chairman of the State Revenue Committee, in the National Assembly on May 31.
According to him, VAT refunds increased by 75.4 billion drams, or 35%. Income tax refunds rose by 29 billion drams, or 44%. "And excise tax refunds grew by 3.5 billion drams, or 200%," Badasyan noted.
The chief tax official stated that the state budget revenues of Armenia during this period increased by 296 billion drams (over $760 million), which represents a growth of 15.4%.
Effective tax administration played a significant role in this growth, Badasyan pointed out.
Earlier, Armenian Finance Minister Vahe Hovhannisyan noted an improvement in tax revenues in 2023: taxes and fees accounted for 23.4% of the gross domestic product (GDP), which is 0.7 percentage points higher than the previous year.
