The State Revenue Committee of Armenia has published the list of the top 1000 taxpayers for 2024, whose total tax contributions amounted to approximately $4.44 billion, just $150 million higher than the 2023 figure.
The Zangezur Copper-Molybdenum Combine (ZCMC) remains the country’s largest taxpayer, significantly increasing its tax payments to $255.6 million compared to $177.6 million in the previous year, reflecting an impressive 43% growth.
Notable shifts occurred in second place: "Mobile Centre Art," a company specializing in importing and selling mobile phones, rose from fourth position by increasing its tax contributions to $167.3 million, up from $115.6 million last year.
"Grand Tobacco" solidified its position in the top three, paying $159.3 million in taxes, a 15% increase from the previous year. "Gazprom Armenia," despite a slight decrease in contributions to $117.4 million, retained its spot in the top five. Rounding out the top five is another player from the tech retail sector, "Pretty Way" (operating the "Vesta" store chain), with tax payments of $91 million.
Other companies in the top ten include: fuel company "CPS Energy Group" ($60.6 million), "Ameriabank" ($58.9 million), e-commerce platform "Wildberries" ($53.4 million), "International Masis Tobacco" ($51.1 million), and "JTI Armenia" ($50.7 million).
Notably, the tech sector and e-commerce have significantly strengthened their presence in the top ten. Alongside traditional leaders from the mining, tobacco, and energy industries, companies specializing in electronics and online retail - such as "Mobile Centre Art," "Pretty Way," and "Wildberries" - are now playing a substantial role. The banking sector also maintains a stable presence among Armenia’s top taxpayers.
