State budget revenues increased by 296 billion drams, or by 15.4 percent, in Armenia, and tax administration has a significant role in this increase. This was announced by the chairman of the State Revenue Committee (SRC), Rustam Badasyan, during the debates on the performance of the 2023 state budget at the joint meeting of the National Assembly Standing Committees on Economic Affairs and on Financial-Credit and Budgetary Affairs Friday.

Badasyan noted that the shadow economy has been reduced in Armenia in the last three years, estimates of the tax gap for value added tax, profit tax, and income tax for 2022 were carried out in 2023, and it was found that the tax gap is 3.06 percent of GDP, which has improved by 0.5 percentage points compared to the previous year.

Reflecting on the tax-GDP ratio, Badasyan said that it will be 23.9 percent, which, if the mortgage income tax refund is included in the calculation, is 0.84 percentage points more than the comparable indicators of the previous year.

"363 billion drams were returned to taxpayers, which is more than last year's figure by around 100 billion drams. In terms of value added tax, income tax is 75.4 billion drams, or 35 percent, the increase is 29 billion drams, or 44 percent, excise tax [increase] is 3.5 billion drams, or about 200 percent," said the SRC chairman.

Customs border crossing points of Armenia have been updated as well Badasyan added.

At the end of 2023, the number of income-generating jobs was 741,726, which exceeded the previous year's figure by 37,306, or 5.3 percent. And the total amount of average monthly income tax was about 40.6 billion drams, which is 5.7 billion drams more than the same indicator of 2022.