Armenia Chairs CIS Tax Investigation Heads' Coordination Council

Armenia has become the chair of the Coordination Council of Heads of Tax (Financial) Investigation Bodies of the CIS member states, the Armenian State Revenue Committee announced following the regular meeting of the Coordination Council, held on September 24 in Yerevan.

The meeting was attended by the heads of competent agencies from Armenia, Russia, Belarus, Kazakhstan, Tajikistan, Uzbekistan, and Kyrgyzstan, as well as representatives of the educational institutions of the Coordination Council and the Council of Heads of Financial Intelligence Units of the CIS, The Caspian Post reports citing Armenian media.

According to Eduard Hakobyan, Chairman of the State Revenue Committee of Armenia, the Council is an important platform for exchanging experience, jointly analyzing, and developing effective mechanisms to combat tax offenses and financial crimes.tax

"In a dynamically changing economic and legal environment, our task is to ensure transparency and legality in the tax sphere and strengthen the trust of citizens and businesses in government institutions. In the 21st century, in the era of digitalization, economic crime knows no boundaries. Cryptoassets, fintech innovations, e-commerce, and cloud solutions are rapidly expanding, introducing new complexities to the shadow economy. In this context, cooperation between countries in tax investigations is becoming especially important," Hakobyan emphasized.

Meeting participants discussed a number of issues related to cooperation between tax (financial) investigation agencies in the CIS countries. These included ensuring the security of economic activity, combating the financing of extremism and terrorism, illegal money trafficking, and the results of measures to detect and prevent economic crimes. Personnel training and professional development were also discussed.