Failures in the e-Invoicing system cause millions in damage to Armenia's economy and hinder GDP growth – entrepreneur
22.09.2025,
13:51
Every year, the State Revenue Committee (SRC) of Armenia causes hundreds of millions of drams in damage to the country's economy through its e-Invoicing "Electronic Reporting System," noted Vahram Mirakyan, head of the Mantashiants Union of Entrepreneurs.
YEREVAN, September 22. /ARKA/. Every year, the State Revenue Committee (SRC) of Armenia causes hundreds of millions of drams in damage to the country's economy through its e-Invoicing "Electronic Reporting System," noted Vahram Mirakyan, head of the Mantashiants Union of Entrepreneurs.
"Almost every month, primarily from the 17th to the 22nd, e-Invoicing begins to malfunction frequently or work very poorly and slowly – for hours, sometimes even days. This problem has existed for many years, and the SRC is unable to resolve it. If e-Invoicing is not working, it means that transactions, transfers, reporting, etc., carried out through this system throughout the country are frozen," he wrote on his Facebook page.
Mirakyan noted that speed is important because it reduces transaction costs, accelerates money circulation, and, as a result, increases GDP. Fast transactions and system predictability attract more investment, while businesses are more loyal to and trust the government system.
"If we calculate how many hours per year the State Revenue Committee's e-Invoicing program is down, and then understand how much GDP is generated in Armenia per hour, we can roughly estimate the damage the State Revenue Committee causes to Armenia's GDP. I'll say right away that the figure is quite significant," he explained.
"Almost every month, primarily from the 17th to the 22nd, e-Invoicing begins to malfunction frequently or work very poorly and slowly – for hours, sometimes even days. This problem has existed for many years, and the SRC is unable to resolve it. If e-Invoicing is not working, it means that transactions, transfers, reporting, etc., carried out through this system throughout the country are frozen," he wrote on his Facebook page.
Mirakyan noted that speed is important because it reduces transaction costs, accelerates money circulation, and, as a result, increases GDP. Fast transactions and system predictability attract more investment, while businesses are more loyal to and trust the government system.
"If we calculate how many hours per year the State Revenue Committee's e-Invoicing program is down, and then understand how much GDP is generated in Armenia per hour, we can roughly estimate the damage the State Revenue Committee causes to Armenia's GDP. I'll say right away that the figure is quite significant," he explained.
