On September 11, the State Revenue Committee has debated the draft on VAT taxation for imports of any equipment or raw materials for production in Armenia in 2018. The initiative is aimed at improving the investment climate and providing additional inputs to businesses.

Under the government's program, the SRC has undertaken reforms during the year to focus on enhancing tax incentives for improving the investment environment, as well as simplifying customs procedures and fighting against the shadow economy. As a result of consistent work to reduce the shadow economy, from September 2016 to August 2017, more than 1 trillion 139 billion drams of tax and customs revenues have been achieved, which is 6.6% or more than 70.8 billion drams more than the same period of the previous year indicator. At the same time, revenues from non-VAT returns amounted to over 1.08 trillion drams, which is 6.2% or 62.9 billion drams more than the same period last year. As a result of increasing tax administration effectiveness, overpayments and arrears related to taxes collected in the state budget have also been reduced. And according to the Prime Minister's instruction, the VAT refund process has been accelerated and simplified by VAT zero-rate transactions. As a result, 175 taxpayers have returned more than 56.4 billion drams of VAT from September 2016 to August 2017.

Since January 2017, the Tax Authority has assessed the existing shadow of 4537 commercial taxpayers who have declared a turnover of 100 million drams and more for tax revenues. As a result of the analysis, as of August 1, the average monthly risk of state revenues calculated based on the shadow of 2272 taxpayers amounted to about 2.8 billion drams. In the case of non-risk-rated taxpayers, mild administration is registered.

The year was marked by structural changes in the system aimed at improving tax and customs administration, the most efficient use of resources, the reduction of corruption risks, as well as the more complete and targeted implementation of the Committee's functions.

New approaches have been introduced in the customs services to free individuals from the obligation to use paid services from customs brokers. Continuous introduction of modern information technologies minimizes the immediate contact between the customs-declarant and increases the effectiveness of customs control.

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