Monday, April 19 2021 14:56
Alina Hovhannisyan

Banks of Armenia in the Q1 of 2021 reduced tax deductions to the  state treasury by 3.2% per annum

Banks of Armenia in the Q1 of 2021 reduced tax deductions to the  state treasury by 3.2% per annum

ArmInfo. Banking system of Armenia in the first quarter of 2021 reduced tax deductions to the state treasury by 3.2% per annum - to 12.15 billion drams ($ 22.9  million), against an increase of 12.6% a year earlier in the same  period.

Of this amount, 87.5% or 9.8 billion drams were paid in  direct taxes, with an annual decline of 12.5% (against 8.7% growth a  year earlier).  According to the RA State Revenue Committee, 12 out  of 17 operating banks were in the first hundred of 1000 largest  taxpayers in Armenia in the first quarter of 2021, as in the previous  year.

Among them, ACBA Bank, Ameriabank, Armbusinessbank, Ardshinbank and  Armeconombank were in the top five taxpaying banks, whereas a year  earlier INECOBANK appeared instead of the latter. In the first  quarter of 2021, the first five banks sent 6.5 billion drams or $  12.2 million to the state treasury (with a slowdown in annual growth  from 10.3% to 0.8%), of which 5.4 billion - for direct taxes (with an  annual decline of 8.5%).

The top five banks account for 53.5% of the total amount of tax  payments to the state treasury by the banking system. And the banking  system accounted for 4.6% of the total tax deductions of 1000 large  taxpayers in Armenia for the first quarter of 2021, against 5.1% a  year earlier.  The leader among banks in terms of taxes paid is ACBA  Bank - 17th place (against 26th a year earlier), which paid 1.7  billion drams (of which 1.4 billion - for direct taxes). Ameriabank  took 20th place (against 24th a year earlier), having directed over  1.4 billion drams to the state budget, of which 1.3 billion - for  direct taxes (including income tax and profit tax). This is followed  by: Armbusinessbank - 24th place (against 32nd a year earlier), which  paid out 1.2 billion drams, of which 1.1 billion - in direct taxes,  Ardshinbank - 39th place (against 41st a year earlier) paid over 1  billion drams, of which 893.3 million - for direct taxes. The first  five banks-large taxpayers this time is closed by Armeconombank,  which took 45th place (against 61st a year earlier) and paid 982.4  million drams, of which 659.7 million - for direct taxes.

The first hundred large taxpayers also included INECOBANK - 50th  place, which paid 869.5 million AMD, of which 764.3 million - for  direct taxes, VTB Bank (Armenia) - 58th place (791.7 million AMD, of  which 624.1 million - for direct taxes), Araratbank - 60th place  (776.5 million AMD, of which 493.8 million - for direct taxes),  Converse Bank - 66th place (719.5 million AMD, of which 580.3 million  - for direct taxes), Unibank - 83rd place (605.9 million AMD, of  which 483.9 million - for direct taxes), HSBC Bank Armenia - 91st  place (575 million AMD, of which 248.2 million - for direct taxes)  and Armswissbank - 95th place (543.3 million drams, of which 519.8  million - for direct taxes).

The rest of the banks were placed as follows: IDBank - 137th place  (361.8 million drams, of which 303.8 million - for direct taxes),  Byblos Bank Armenia - 296th place (159.3 million drams, of which  137.4 million drams - for direct taxes ), Evocabank - 352 place  (131.8 million AMD, of which 85.2 million - for direct taxes), Mellat  Bank - 642 place (71.6 million AMD, of which 65.6 million - for  direct taxes), and Artsakhbank - 820 place (54.7 million drams, of  which 50.8 million- for direct taxes).

To note, for the I quarter of 2020 Armenian banks transferred 12.5  billion drams to the state treasury, of which 89.5% or 11.2 billion  drams were paid through direct taxes. At that time, the leading five  among taxpaying banks were represented by Ameriabank, ACBA-Credit  Agricole Bank, Armbusinessbank, INECOBANK and Ardshinbank, which in  total provided tax payments in the amount of 6.4 billion AMD or 51.2%  of the total tax payments to the state treasury by the banking  system. (The estimated AMD exchange rate as of March 31, 2021 was  531.17 AMD / $ 1, against 504.47 AMD / $ 1 as of March 31, 2020). 

POST A COMMENT
Input digits     


News
Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover Russia and China hold first two positions in export and import in  Armenia`s foreign trade turnover 
Former Prime Minister: If the economic Former Prime Minister: If the economic "miracles" of the government  are continued, then in a couple of years, in terms of GDP growth,  Armenia will be in the last ranks of the CIS countries
Safe online shopping. A few tipsSafe online shopping. A few tips
Ardshinbank: Visa Direct transfers with more advantageous termsArdshinbank: Visa Direct transfers with more advantageous terms
Armenia`s foreign trade turnover with EU countries has grownArmenia`s foreign trade turnover with EU countries has grown
First floating solar power plant to be built in ArmeniaFirst floating solar power plant to be built in Armenia
Interview with Huib-Jan de RuijterInterview with Huib-Jan de Ruijter
Armenia`s foreign trade turnover with the EAEU countries is in  declineArmenia`s foreign trade turnover with the EAEU countries is in  decline
Head of the Fund: Electricity tariff may be loweredHead of the Fund: Electricity tariff may be lowered
Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021Armenia`s foreign trade turnover decreased by 4.4% per annum in the  first quarter of 2021
Natural population growth in Armenia decreased by 17% in the first  quarter of 2021Natural population growth in Armenia decreased by 17% in the first  quarter of 2021
In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%In Armenia, the negative balance of migration in the first quarter of  2021 decreased by 30.6%
Armenia considers the possibility of extending the ban on the import  and sale of goods of Turkish originArmenia considers the possibility of extending the ban on the import  and sale of goods of Turkish origin
Acting Minister of Economy: It`s time to make a decision on Amulsar  Acting Minister of Economy: It`s time to make a decision on Amulsar  
Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021Armenia`s textile industry increased its volumes by 73.2% per annum  in Q1 of 2021
Lavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidlyLavrov: As we get out of the epidemiological situation, the trade  turnover between Russia and Armenia will increase rapidly
In Q1 services in a number of areas remained on the rise, but  significantly slowed down the rateIn Q1 services in a number of areas remained on the rise, but  significantly slowed down the rate
Armenia`s alcohol industry recovers from coronavirus crisis in a yearArmenia`s alcohol industry recovers from coronavirus crisis in a year
Dominant telecommunications sector registers growth in Armenia`s  communications sectorDominant telecommunications sector registers growth in Armenia`s  communications sector
Historical records: Pashinyan spoke about the process of  economic recovery in ArmeniaHistorical records: Pashinyan spoke about the process of  economic recovery in Armenia
Passenger traffic in Armenia deepens into recession amid accelerated  growth in freight trafficPassenger traffic in Armenia deepens into recession amid accelerated  growth in freight traffic
Economy Minister insists: Armenia will reach double-digit economic  growth by the end of the yearEconomy Minister insists: Armenia will reach double-digit economic  growth by the end of the year
Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%Metallurgical industry of Armenia in Q1 of 2021 increased production  volumes by 4.1%
In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1In Armenia, aluminum foil production volumes decreased by 2.6% per  annum in Q1
Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% Y-O-Y inflation in Armenia in April 2021, amounted to 6.2%, and in  January-April alone-5.1% 
Armenian economy tries to growArmenian economy tries to grow
Electricity generation in Armenia slowed down y-o-y growth rate in Q1Electricity generation in Armenia slowed down y-o-y growth rate in Q1
Armenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annumArmenia`s industrial sector in the first quarter of 2021 reduced  production volumes by 3.9% per annum
Central Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflowCentral Bank of Armenia: Private transfers have registered growth-  tangible in inflow and weak in outflow
The art of interpretation: 50% is also a result. The art of interpretation: 50% is also a result. "Prosperous Armenia"  indulges in populism, insisting that writing off debt on loans is  justified
Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021Central Bank of Armenia: An increase in private transfers by 47.7%  per annum was registered in Armenia, in Q1 of 2021
Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021Central Bank of Armenia: The share of non-performing loans in the  loan portfolio of the banking system of Armenia reached 7.1% in Q1 of  2021
The regulator is confident that it will be possible to return to the  inflation target next yearThe regulator is confident that it will be possible to return to the  inflation target next year
Central Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditionsCentral Bank considers it necessary to gradually neutralize the  stimulating effect of monetary conditions
Armenian lawmaker promises that cross-border VAT payments will be  canceledArmenian lawmaker promises that cross-border VAT payments will be  canceled
Iranian official: Armenia is a window to international marketsIranian official: Armenia is a window to international markets
Central Bank of Armenia raised refinancing rate from 5.5% to 6%Central Bank of Armenia raised refinancing rate from 5.5% to 6%
ARMENAL prepares for ASI certificationARMENAL prepares for ASI certification
IMF gives forecast of Armenia`s key indicators for 2021 - 2022IMF gives forecast of Armenia`s key indicators for 2021 - 2022
Land continues to be the most attractive asset in ArmeniaLand continues to be the most attractive asset in Armenia
In cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone numberIn cooperation with Russian Sberbank, Ardshinbank launches instant money transfers through phone number
Armenia and EU intend to expand cooperation in the customs fieldArmenia and EU intend to expand cooperation in the customs field
Summarizing the results of the campaign dedicated to Women`s HolidaysSummarizing the results of the campaign dedicated to Women`s Holidays
Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%Prices for apartments in Yerevan fell on average by 6% over the year,  while the number of transactions decreased by 16.5%
On April 26-30, 2021, the volume of dollar transactions in the  foreign currency interbank of Armenia decreased by 30%On April 26-30, 2021, the volume of dollar transactions in the  foreign currency interbank of Armenia decreased by 30%
Ambassador: Armenia`s business environment is favorable for Iranian  businessAmbassador: Armenia`s business environment is favorable for Iranian  business
Pashinyan visited the innovative town of Innopolis in KazanPashinyan visited the innovative town of Innopolis in Kazan
Armenia entered the TOP-5 countries recommended for Russian tourists  for the May holidaysArmenia entered the TOP-5 countries recommended for Russian tourists  for the May holidays
Converse Bank. Another cashback campaign dedicated yet to another holidayConverse Bank. Another cashback campaign dedicated yet to another holiday
Armenia`s international reserves increased by 16.5% per annum by  April 2021Armenia`s international reserves increased by 16.5% per annum by  April 2021
Carrefour plans to open 10 more supermarkets in Armenia during the  yearCarrefour plans to open 10 more supermarkets in Armenia during the  year
ArmInfo Financial rating: Health insurance fees stagnate, and travel  insurance is in the deep redArmInfo Financial rating: Health insurance fees stagnate, and travel  insurance is in the deep red
Armenia is going to prolong the loan with ADB and significantly  increases the financial burden of the state treasuryArmenia is going to prolong the loan with ADB and significantly  increases the financial burden of the state treasury
Expert: Armenian retail should work towards creating solutionsExpert: Armenian retail should work towards creating solutions
One more type of Converse Bank lending made available on the SME online lending platformOne more type of Converse Bank lending made available on the SME online lending platform
Armenia significantly reduced imports of passenger cars in 2020Armenia significantly reduced imports of passenger cars in 2020
IDpay: transfers from Armenia to Russia and vice versaIDpay: transfers from Armenia to Russia and vice versa
Armenia increased imports of wheat in 2020, reducing the volume of  flour suppliesArmenia increased imports of wheat in 2020, reducing the volume of  flour supplies
Pashinyan promises to announce a new agricultural program in the near  futurePashinyan promises to announce a new agricultural program in the near  future
Robert Kocharyan: Armenia can be turned into a large construction  siteRobert Kocharyan: Armenia can be turned into a large construction  site
Read more


Exchange rates
07.05.2021
RUB7.050.06
USD522.090.64
EUR630.682.49
GBP726.751.10
CAD428.502.69
JPY47.850.07
CNY80.720.37
CHF575.312.04