Armenian SRC uncovers 325 billion drams of shadow tax revenue in nine months

YEREVAN, October 24. /ARКА/. Eduard Hakobyan, the head of the State Revenue Committee (SRC), revealed that around 325 billion drams of concealed tax revenue were identified in Armenia during the first nine months of this year, marking a 97% increase compared to the same timeframe in 2024.

"The amount of 'hidden' taxes reached 108 billion drams (a 52% increase)," he stated at a press conference on Friday, noting that this information was obtained through the use of digital tools.

Hakobyan pointed out that the shadow tax revenue in Armenia is predominantly found in the construction and trade sectors.

In general, he mentioned that efforts to combat the shadow economy are being implemented across various domains.

"The turnover of payment documents rose by 15%, while the number of issued documents increased by 17%. The volume of non-cash payments in retail and services surged by 55%, and the amount of funds involved grew by 32%. Approximately 2,000 unregistered employees were discovered, reflecting a 28% rise compared to the same period last year," Hakobyan remarked during the press conference on Friday.

He also indicated that the number of operational investigative activities has declined by 25% compared to the same period last year, although the focus has intensified.

In May 2025, Hakobyan assessed the level of "shadow" activity within the domestic economy to be at 20%. The State Revenue Committee and the Ministry of Finance of Armenia estimate the level of "shadow" income to be between 200-300 billion drams, despite these figures being 2-3 times higher several years ago. ($1 - 383.05 drams).-0-