According to Armenia’s State Revenue Committee, tax revenues and duties collected in the state budget from January to October 2024 amounted to $4.925 billion. In October alone, collections reached $507.2 million.
The structure of tax revenues over the ten months shows uneven trends. VAT collections decreased by 1.8% compared to the same period in 2023, totaling $1.5 billion. However, personal income tax saw a significant increase of 21.7%, reaching $1.353 billion.
Environmental fees and natural resource payments experienced a sharp rise of 76.8%, amounting to $197 million. Profit tax revenues grew by 5.6% to $750.3 million, while social payments increased by 14.9%, totaling $213.8 million.
Excise tax revenues showed a modest growth of 1.5%, reaching $277.2 million. State duties increased by 20.6% to $162.5 million, customs duties rose by 3% to $158.3 million, and turnover tax grew by 17.2%, reaching $146.3 million. Other tax revenues increased by 11.6%, amounting to $166.6 million.
