Shadow economy activity in Armenia estimated at about 240 bln drams – head of SRC
31.10.2023,
14:51
Armenia has a shadow economy with a turnover of about 240 billion drams, Head of the State Revenue Committee (SRC) Rustam Badasyan said on Tuesday.
YEREVAN, October 31. /ARKA/. Armenia has a shadow economy with a turnover of about 240 billion drams, Head of the State Revenue Committee (SRC) Rustam Badasyan said on Tuesday.
According to him, about 120 billion drams are tax evasion (unpaid VAT) and as much are unpaid income taxes.
"We cannot claim that we will be able to eliminate the shadow economy completely. Nevertheless, it is obvious that it should be reduced," Badasyan said at the parliamentary hearings on the draft state budget for 2024.
He added that by the end of September 2023, the number of employed persons reached 726,056.
"This is an absolute record and is 5.1% more than in the same period of last year," Badasyan stressed. -0-
