SRC, UK Ambassador, World Bank discuss next phase of tax, customs administration reforms

Eduard Hakobyan, Chairman of the State Revenue Committee (SRC), met with British Ambassador to Armenia Alexandra Cole and representatives of the World Bank mission.

The State Revenue Committee said in a press release that the meeting reviewed the cooperation established between the State Revenue Committee and the World Bank and the UK Foreign, Commonwealth and Development Office (FCDO).The results recorded within the framework of joint work were summarized, and the priorities for the next phase of the ongoing transformation of tax and customs administration in Armenia were discussed.

As part of the meeting, a panel discussion titled “From Reforms to Results: Cooperation and Priorities for the Next Phase of Tax and Customs Administration Transformation” was also held, attended by Chairman Hakobyan, Fabrizio Zarcone, World Bank Country Manager for Armenia, and Ambassador Cole.

During the panel discussion, SRC Chairman Eduard Hakobyan addressed the significance of cooperation with the World Bank and the UK Foreign, Commonwealth and Development Office, presenting the significant achievements within this framework in terms of improving tax and customs administration.

Addressing the impact of the reforms being implemented, the SRC Chairman noted that the simplification of processes, increased transparency, and more effective use of data are creating new opportunities for taxpayers and participants in foreign economic activity. “The cooperation is not limited to any individual program or initiative, but is aimed at laying the foundations for the next phase of the Committee’s development. The support of international partners makes it possible to turn ideas into practical solutions. This cooperation is fully in line with the SRC’s vision of creating a modern, efficient and transparent institution that, on the one hand, will ensure effective revenue administration for the state and, on the other hand, will create a clear, fair and business-friendly environment for taxpayers,” Eduard Hakobyan emphasized.

Ambassador Alexandra Cole also emphasized the importance of an effective tax and customs system: “The existence of a strong, transparent, efficient system based on clear rules makes business processes much easier, and that is precisely why we support this process. The results achieved provide a solid foundation for continuing and deepening the long-term partnership.”

Fabrizio Zarcone highly valued the cooperation: “I am truly grateful to the SRC for the work and the journey that we are undertaking together. This is not just a short-term technical assistance program, but also a long journey that the United Kingdom has decided to undertake together with the SRC and the World Bank.”

The panel discussion also addressed the priorities for the next phase of tax and customs administration transformation in the context of Armenia’s new opportunities for regional integration and connectivity. The participants reaffirmed their readiness to continue effective cooperation in the areas of modernizing tax and customs administration, developing institutional capacities, introducing international best practices, and enhancing Armenia’s economic resilience and competitiveness.

Following the panel discussion, the implementation progress and next steps of the Fourth Public Sector Modernization Program (PSMP-4) were also discussed separately with representatives of the World Bank.