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YEREVAN. – When coming out of shadow economy, there may be some inflation due to the increase in the tax burden.

Chairman of the State Revenue Committee (SRC) of Armenia, Davit Ananyan, on Monday told the aforementioned to reporters in parliament. But he added that he does not believe this will have long-lasting effects.

Ananyan admitted, however, that there still is shadow economy in Armenia.

“Yes, there is; [but] the assessments are diverse,” he said. “If we look at the data of the National Statistical Committee, they don’t call it shadow [economy], but non-registered economy. According to the Statistical Committee data, it has dropped and reached 22 percent, from 25 percent.”

Davit Ananyan added that the SRC was introducing its own information systems for the estimation of sectoral taxable shadow economy in Armenia.

“Now we are working on the creation of that tool,” he said, in particular.

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