Zangezur Copper and Molybdenum Plant tops list of Armenia`s 1,000 major taxpayers

ArmInfo. Zangezur Copper and  Molybdenum Plant (ZCMP) topped the list of 1000 large taxpayers of  Armenia based on the results of the first half of 2024, holding the  lead for the third year in a row. This is evidenced by the data of  the State Revenue Committee of the Republic of Armenia.

During the reporting period, the leading enterprise sent over 64  billion drams to the state treasury, which is 83.9% higher than the  figure a year ago. Of this amount, 1.2 billion drams were paid in  customs duties, 22.3 billion drams in direct taxes (including profit  tax, income tax), and over 1.4 billion drams in indirect taxes  (including VAT, excise tax). Mobile Center Art moved up to second  place (from sixth a year earlier), having paid 32.3 billion drams to  the state treasury with a two-fold increase over the year, of which  526.8 million drams were customs duties, 3.1 billion drams were  direct taxes (including profit tax, income tax), and 28.9 billion  drams were VAT.

Gazprom Armenia moved down to third place from second, having sent  27.6 billion drams to the state treasury (with an annual decline of  10.1%), of which 149.7 million drams were customs duties, over 2.7  billion drams were direct taxes (including profit tax, income tax),  and about 23.9 billion drams were indirect taxes. Grand Tobacco moved  down to fourth place from third, having sent 23.5 billion drams to  the state budget (with an annual growth of 16.3%), of which 1.4  billion drams were customs duties, 1.5 billion drams were income tax,  and 18.7 billion drams were VAT. The top five is rounded out by OOO  Priti Way (the Vesta electrical and household appliances store),  which paid 17.6 billion drams to the state budget (with an annual  growth of 12.1%), of which 12.4 billion drams were customs duties and  1.1 billion drams were income tax.

In total, the top five paid 165.2 billion drams in taxes to the  budget, which is 32.8% higher than the figure for the previous year.  Overall, the share of the top five in the total volume of tax  payments increased over the year from 14.2% to 18.3%. In terms of  customs duties, the top five paid 15.8 billion drams (an annual  increase of 3.7 times), in terms of direct taxes (including profit  tax, income tax) - 37.9 billion drams (an annual decrease of 38.1%),  in terms of indirect taxes (including VAT, excise tax) - 81.4 billion  drams (an annual increase of 80.5%). After them in the top ten were  Ameriabank (a drop to 6th position from 4th a year ago), Viva Armenia  (an advance to 7th position from 13th a year ago), CPS Energy Group  (held on to 8th position), SoftConstruct (an increase to 9th position  from 21st a year ago) and City (an increase to 10th position from  15th a year ago).

In total, 1,000 major taxpayers of Armenia increased payments to the  state treasury by 3% per annum in the first half of 2024, ensuring a  volume of 900.4 billion drams. It should be noted that according to  the results of the first half of 2023, the TOP-5 included the  Zangezur Copper and Molybdenum Combine, Gazprom Armenia CJSC, Grand  Tobacco, Ameriabank and Ardshinbank. In total, they transferred 124.4  billion drams to the state budget in taxes, of which over 4.2 billion  drams were customs duties, 61.2 billion drams were direct taxes  (including profit tax, income tax) and 45.1 billion drams were  indirect taxes (including VAT, excise tax).