Banks of Armenia increased tax deductions to state treasury in 2021,  after decline in 2020

ArmInfo. The banking system of Armenia for 2021 increased tax deductions to the state treasury by 6.3% - up to 52.2 billion drams ($108.8 million). Of this amount,  87.2% or 44.7 billion drams was paid in direct taxes, with a y-o-y  growth of 4.4%.

According to the State Revenue Committee of the Republic of Armenia,  10 out of 17 operating banks were among the top 100 largest taxpayers  in Armenia in 2021 (against 12 a year earlier). Among them,  Ameriabank, ACBA Bank, INECOBANK, Armbusinessbank and Armeconombank  were in the top five- taxpaying banks, three of which were in the  TOP-5 a year earlier.

In 2021, the top five banks sent 28.1 billion drams to the state  treasury through taxes (y-o-y growth of 15.1%), of which 24.8 billion  drams were direct taxes (y-o-y growth of 15.8%).

The leader among banks in terms of the amount of taxes paid,  Ameriabank moved up to 17th place in the list of large taxpayers,  (from 23rd a year earlier) having allocated 8.8 billion drams to the  state budget, of which 8.1 billion drams - for direct taxes. They are  followed by: ACBA Bank - 27th place (against 24th a year earlier),  paying 5.6 billion drams, of which 4.5 billion - direct taxes;  INECOBANK - 33rd place (against 45th a year earlier), paying 5.2  billion drams, of which 4.8 billion - direct taxes; Armbusinessbank -  40th place (against 29th a year earlier), paying 4.5 billion, of  which 4.1 billion - direct taxes; and Armeconombank closes the top  five large taxpayers banks -  60th place (against 62nd a year  earlier) - 3.8 billion, of which 3.2 billion - direct taxes.

The first hundred large taxpayers also included Ardshinbank - 62nd  place (3.7 billion drams, of which 3.2 billion - in direct taxes),  VTB Bank (Armenia) - 66th place (3.6 billion drams, of which 2.8  billion - direct taxes), Armswissbank - 75th place (2.9 billion, of  which 2.8 billion are direct taxes), IDBank - 84th place (2.5  billion, of which 2.3 billion are direct taxes), and Converse Bank -  88th place (2.4 billion, of which 1.9 billion is income tax).  The  second hundred large taxpayers of Armenia were: Unibank - 104th place  (over 2.1 billion drams, of which 1.7 billion drams are direct  taxes), Araratbank - 107th place (2.1 billion drams, of which 1.6  billion are direct taxes), HSBC Bank Armenia - 125th place (1.8  billion drams, of which 1 billion are direct taxes).  

The list of 1000 large taxpayers of Armenia also includes Evocabank -  233rd place (925.8 million drams, of which 719.6 million drams are  direct taxes), Byblos Bank Armenia - 243rd place (887.5 million  drams, of which 788.1 million drams are direct taxes), Mellat Bank -  360th place (647.7 million drams, of which 591 million drams are  direct taxes), and Artsakhbank - 888th place (232.7 million drams, of  which 192.2 million are income tax).  It should be noted that in  2020, the banking system of Armenia reduced tax deductions to the  state treasury by 10.1% - to 49.1 billion drams ($93.9 million). Of  this amount, 87.2% or 42.8 billion drams was paid in direct taxes,  with a y-o-y decline of 17%. (As of December 31, 2012, the estimated  exchange rate of the dram against the dollar was 480.14 AMD / $ 1).