Wednesday, October 16 2019 17:31
Naira Badalian

Armenia`s Chief Tax Officer: Trade makes the largest share of the  shadow economy

Armenia`s Chief Tax Officer: Trade makes the largest share of the  shadow economy

ArmInfo.The shadow share of the Armenian economy falls mainly on small and medium enterprises; in large business it is more difficult to hide the "shadow". This was stated by Chairman of the State Revenue Committee (SRC) David Ananyan on October 16 at a press conference.

In particular, according to Ananyan, tax administration is carried  out with large businesses on a daily online basis. "The largest share  of the shadow economy is in the trade sector. In agriculture, there  is also a rather large" shadow sector ", but we do not consider this  sector taxable because it does not generate taxes," David Ananyan  said.  As for the volume of the "shadow", the chairman of the SRC  cited data published by the Statistical Committee of Armenia,  according to which, now the volume of the so-called "not considered  economy" is about 22%. In it, as Ananyan pointed out, the share of  the "shadow economy" reaches about 8-10%.

To recall, at the beginning of 2018, in an interview with ArmInfo,  the head of the Union of Employers of Armenia Gagik Makaryan stated  that at present the share of the shadow economy in large business is  about 30%, small and medium-sized businesses in this regard a little  more than "succeeded". Referring to the data of the International  Monetary Fund (IMF) and the World Bank (WB), the expert noted that  because of the scale of the "shadow", the Armenian budget annually  receives $ 2 billion less on average. At the same time, he urged to  combat the "shadow" carefully. " "Without creating the appropriate  conditions for the development of the business environment, we can  destroy the business based on the results of this struggle. Thousands  of entrepreneurs survive precisely thanks to the" shadow ". Thus, the  pace of improving the business climate in Armenia, as well as  stimulating exports should be ahead of the dynamics of the fight  against the shadow economy "he concluded.

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