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Tax Revenues from Large Businesses in Armenia Exceed $3.4 Billion

Tax
Arshaluis Mgdesyan
28.10.24 14:45
57

The Armenian State Revenue Committee has published the list of the 1,000 largest taxpayers for January-September 2024.

According to the data, the top contributor in tax payments was the Zangezur Copper-Molybdenum Combine (ZCMC), which paid $215.5 million to the state budget. Compared to the same period last year, the company's tax contributions increased by $80 million.

The second-largest taxpayer is Mobile Centre, a company specializing in the import and export of phones and electronics. In the first nine months of this year, it paid $126.5 million in taxes. The sharp rise in its tax contributions is linked to increased re-exports to Russia; during the same period last year, the company paid $77.6 million.

Third place went to the tobacco company Grand Tobacco, with tax payments of $102.3 million, which is $22.4 million more than for the same period last year. Gazprom Armenia ranks fourth, with tax contributions totaling $93.6 million.

In fifth place is Pritti Way, known for its Vesta retail chain, which deals in the import, sale, and export of home appliances. Its tax payments amounted to $71.9 million.

The top ten taxpayers also include Ameriabank ($52.6 million), CPS Energy Group ($45.4 million), Philip Morris ($37.9 million), Viva Armenia ($37.4 million), and City ($35.8 million).

Overall, from January to September 2024, the 1,000 largest taxpayers contributed over $3.4 billion to the state budget, which is $147 million more than in the same period last year.

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