Thursday, October 26 2023 13:45
Alina Hovhannisyan

Zangezur Copper-Molybdenum Combine continues to lead list of major  taxpayers in Armenia

Zangezur Copper-Molybdenum Combine continues to lead list of major  taxpayers in Armenia

ArmInfo.The list of 1000 major taxpayers in Armenia continues to be headed by Zangezur Copper-Molybdenum Combine CJSC (ZCMC), according to the data from the State Revenue Committee for January-September 2023.

Thus, during the reporting period, ZCMC allocated a total of 52.4  billion drams to the state treasury through taxes, which is 59.4%  lower than a year ago. Of this amount, 1.8 billion was paid for  customs duties, 23.1 billion drams - for direct taxes (including  profit tax, income tax), 2 billion - for indirect taxes (including  VAT, excise tax).

"Gazprom Armenia" CJSC is in second place, it paid 39.5 billion drams  to the state treasury, with a y-o-y decrease of 5.5%. Of this amount,  161.2 million drams were paid for customs duties, 3.7 billion drams  for direct taxes, and 34.6 billion drams for indirect taxes.

The third place was secured by the Armenian-Canadian enterprise  "Grand Tobacco", which sent 31 billion drams to the state budget  (with a y-o-y decline of 7.4%), of which 2.8 billion for customs  duties, 4.5 billion drams - for direct taxes ( including profit tax,  income tax), 26 billion drams - for indirect taxes.

The Mobile Center Art company moved up to fourth place from 19th a  year earlier, having paid 30.1 billion drams to the state treasury (a  4-fold y-o-y increase), of which 679.3 million drams - for customs  duties, 1.3 billion drams - for direct taxes ( including profit tax,  income tax), 28.4 billion drams - for indirect taxes.  Pretty Way LLC  closes the TOP-5 (Vesta electrical and household appliances store),  with a significant improvement in its position from 92nd  a year  earlier. Priti Way's Tax payments to the state budget amounted to  23.4 billion drams (with a 10-fold y-o-y increase), of which 20  billion drams were for customs duties.

In total, the TOP-5 paid 176.4 billion drams ($448.8 million) to the  budget in taxes, which is 24.1% lower than a year ago. Of this  amount, 34.4 billion went to the state treasury through direct taxes  (including profit tax, income tax) and 105.5 billion drams through  indirect taxes (including VAT, excise tax). The share of the TOP-5 in  the list of 1000 largest taxpayers, decreased over the year from  21.4% to 13.9%.  After the TOP-5, the TOP-10 includes Ameriabank -  6th place (versus 20th place a year earlier), Ardshinbank - 7th place  (versus 32nd place a year earlier), CPS Oil Corporation - 8th place  (versus 7th place a year earlier), International Masis Tabak - 9th  place (versus 4th place a year earlier), and JTI Armenia was in 10th  place.

According to the State Revenue Committee data, the 1000 largest  taxpayers in Armenia paid 1.3 trillion drams ($3.2 billion)  to the  state treasury in Jan-Sept 2023, which is 17% higher than a year ago.

The calculated exchange rate of the dram as of September 30, 2023 was  393.40 AMDs/$1.