Wednesday, January 20 2021 18:23
Alina Hovhannisyan

For the second year in a row Grand Tobacco JV tops the list of  largest taxpayers in Armenia 

For the second year in a row Grand Tobacco JV tops the list of  largest taxpayers in Armenia 

ArmInfo. As in the previous year, "Grand Tobacco" JV topped the list of the largest taxpayers in Armenia according to the results of 2020, having paid 50.7 billion  drams to the state treasury, or about $ 96.9 million (with a y-o-y  decline of 12.1%), of which 2.4 billion drams - on customs duties,  7.2 billion drams - on direct taxes (including income tax, profits  tax), 43.1 billion drams - on indirect taxes (including VAT, excise  tax). This is evidenced by the published data of the RA State Revenue  Committee.

Gazprom Armenia CJSC moved up to the second position from the third,  having paid 45.5 billion drams to the state budget (with a y-o-y  growth of 4.4%), of which 259.4 million drams for customs duties, 5.5  billion drams for direct taxes (in including income tax, profits  tax), 39.3 billion drams - for indirect taxes (including VAT, excise  tax).

Zangezur Molybdenum Combine CJSC dropped to the third position from  the second year earlier, having paid 41.7 billion drams to the state  budget (with a decline of 18.8% over the year), of which over 2  billion drams in customs duties, 15.6 billion drams - on direct taxes  (including income tax, profits tax), 2.1 billion drams - on indirect  taxes (including VAT, excise tax).

GeoPromining rose to the fourth place from the 9th a year earlier,  The company's contributions to the state budget exceeded 23 billion  drams, which is 68.5% higher than a year ago, of which 1.7 billion  drams - for customs duties, 11.8 billion drams - for direct taxes,  1.6 billion drams - for indirect taxes.

According to the results of 2020, International Masis Tabak LLC   closes the five leaders (instead of the 4th position a year earlier).  The company's contributions to the state budget amounted to 18.8  billion drams (with a decline of 2.2% over the year), of which 2.5  billion drams - for customs duties, 4.1 billion drams - for direct  taxes, 13.5 billion drams - for indirect taxes.

In total, the five leaders paid 179.7 billion drams to the budget in  taxes (with a y-o-y decline of 4.3%), of which 44.3 billion - in  direct taxes (including income tax, profits tax), which is by  12.3%less than indicator of year ago, and 99.7 billion drams - for  indirect taxes (including VAT, excise tax) with a y-o-y decline of  11.2%.

After 5 leaders in the top ten, there are CPS Oil Corporation (6th  position against 7th a year earlier), Flash oil trader (7th position  against 6th a year earlier), Philip Morris LLC (8th position, as in  the previous year), JTI Armenia CJSC (9th position, versus 5th a year  earlier) and MTS Armenia (10th position, versus 14th a year earlier).

According to the data of the State Revenue Service, the 1000 largest  taxpayers of Armenia paid 987.6 billion drams to the state treasury,  which is 7% less than a year ago.   To note, at the end of 2019, the TOP-5 included: Grand Tobacco JV,  Zangezur Molybdenum Plant CJSC, Gazprom Armenia CJSC, International  Masis Tabak and JTI Armenia CJSC. In total, they transferred 187.7  billion drams to the budget (with a y-o-y growth of 11.9%), of which  50.5 billion - for direct taxes (including income tax, profits tax)  and 112.3 billion drams - for indirect taxes (including VAT, excise  tax).  (The estimated exchange rate of the dram as of December 31,  2020 was 522.59 AMD / $ 1).  At the same time, according to the press  service of the State Revenue Committee, of the total amount of income  tax paid to the state treasury, the share of mining companies in 2019  accounted for 11.1%. At the same time, it is reported that out of 28  enterprises licensed to operate in the mining industry, only 8  enterprises actually operated during the reporting period. In 2020,  their number was 9. However, data on the amount of income tax paid by  the latter in 2020 will be published on April 20, 2021.

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