Share of taxes in Armenia`s GDP to be brought up to 25% next year -  official 

ArmInfo. One of the main areas of activity of the State Revenue Committee of Armenia in 2025  will be improving the quality of service to taxpayers and reducing the "shadow". This was stated by the head of the department Rustam Badasyan on November 4 during the discussions of the draft state  budget of the country at a meeting of the commissions of the National Assembly of the Republic of Armenia. 

According to him, over the past three years, the level of the  "shadow" economy in the country has noticeably decreased. According  to data for 2023, the share of taxes in the country's GDP amounted to  24.1%, improving by 1% compared to 2022. Badasyan also said that the  "taxes - GDP" indicator will amount to 25% by the end of 2025  compared to 2020 (22.6%). Thus, the head of the SRC continued, it  will be possible to achieve the target indicators next year. Since  2018, this indicator has improved annually by an average of 0.6%  points. 

Badasyan also reported that the total amount of budgetary allocations  of the State Revenue Committee in 2025 will decrease, despite some  growth in expected financial resources. This, as the head of the  State Revenue Committee noted, is due to the return of income tax on  mortgage loans by citizens. Without taking this factor into account,  next year the current expenses of the department will amount to 26.2  billion drams, or 3.3 billion drams less than in 2024. This means  that a greater volume of work will be carried out using fewer  resources.