Monday, January 29 2024 18:12
Alina Hovhannisyan

70 IT companies included in Armenia`s 1000 largest taxpayers list

70 IT companies included in Armenia`s 1000 largest taxpayers list

ArmInfo.At the end of 2023, the list of 1000 largest taxpayers of Armenia included 70 IT  companies, which in total replenished the state treasury by 75 billion drams, which exceeds the figure a year ago by 44% or 25 billion drams.

According to the Ministry of High-Technology Industry, citing data  from the Modex agency, IT companies account for 3.9% of total taxes  paid.

The TOP-5 includes Veeam Armenia, Synopsis, EPAM, KEH Armenia and  Picsart.

According to the State Revenue Committee, the 1000 largest taxpayers  in Armenia paid 1.710 trillion drams to the state treasury in 2023,  which is 14.8% higher than a year ago.

According to the Statistics Committee, the information and  telecommunication technologies (ICT) sector in Armenia accelerated  its growth rate from 65% to 67.3% in 9 months, providing 649.6  billion drams ($1.7 billion) in revenue.

The dominant segment in ICT in Armenia - the service sector -  accounts for 69.6% or 452.4 billion drams (y-o-y growth by 49%), of  which the largest part is represented by information technologies -  336.5 billion drams (y-o-y growth by 73.4%) , and the  telecommunications segment accounts for 109.6 billion drams (y- o-y  growth of 5.5%). At the same time, the share of the ICT production  segment decreased from 0.4% to 0.1% during the year, in particular,  the amount of income decreased by 52.2% to 818.2 million drams.