ArmInfo. Armenia's State Revenue Committee (SRC) has announced a successful fiscal year, reporting that tax collections for 2025 reached 100.2% of the legislative target. At a press conference on February 10, when summing up the results of his agency's work for 2025, SRC Chairman Eduard Hakobyan said that total tax revenues and state duties amounted to 2.725 trillion drams, marking a significant 14% growth compared to the previous year.
The tax and duty collection amounted to 100.2% of the 2. 720.3 trillion drams set by the Law "On the State Budget for 2025" and 100.3% of the revised amount. Tax revenues increased by 14.5%, while customs revenues increased by 11.6%. Moreover, the actual tax and duty collections exceeded the projected figures for 2025, as outlined in the Medium-Term Expenditure Program for 2026-2028 and the Explanatory Note to the 2026 Budget.
The tax/GDP ratio also surpassed the figure projected by the Law "On the State Budget of the Republic of Armenia for 2025." Last year, according to Hakobyan, the second-highest growth since 2018 was recorded - with an increase of 1 percentage point. "As a result, we achieved a 24.5% figure, which brings us closer to the target of 25% of GDP outlined in the government's 2021-2026 program," the chief tax official said, expressing confidence that the target will be reached by the end of the current year.
Taxpayers received 409 billion drams in refunds in 2025, marking a 4.2% increase from 2024. Of this amount, 95.6 billion drams were income tax refunds for mortgage loans (a 39.4% increase). The State Revenue Committee has recorded a significant increase in the number of income-generating jobs in the country - 823,000 (5.7% more than the 2024 figure). The average income in the Republic of Armenia is estimated at 401,400 drams, or approximately 6% more than in 2024. According to Hakobyan, all of this was achieved primarily through increased administrative efficiency and improved analytical tools. While visits and contacts with businesses have significantly decreased, the quality of tax violation detections has improved.
Recall, the 2025 state budget predicts GDP growth at 5.1%. Revenues are projected to reach 2 trillion 873.6 billion drams, with 2 trillion 720.3 billion drams coming from taxes and state duties.
