Modex: IT companies reduce their payments into the state budget

ArmInfo. In the first half of the year, tax revenues paid by IT companies decreased. This is stated in a study by the Modex consulting company.  According to the source, in January-June 2024, 79 IT companies were included in the list of 1,000 major taxpayers, together provided  net income of AMD 45.9 billion for the state budget, which is AMD 123 million less than in the same period of 2023.  During the reporting period, IT companies included in the list of 1000 top taxpayers, collectively provided 4.4% of revenues controlled by the State Revenue Committee, instead of 4.8% for the same period last year.  79 IT companies together paid AMD 9.2 billion as profit tax, of which 12% or AMD 1.1 billion paid by Synopsys Armenia.  "8 out of the TOP-20 IT taxpayers showed a decrease in paid taxes, mainly in income tax, which is presumably due to the outflow of Russian IT specialists," - noted Haykaz Fanyan, director of the Modex consulting company, on a social network.  The decline was particularly strong in the case of Veeam Armenia, VMware, DataArt and EPAM companies.  The taxes for each company is calculated as the difference between the total amounts paid by the company to the state budget and the amounts returned to the unified account in terms of VAT and excise tax, Modex clarified.  It should be noted that a total of 1,000 major taxpayers in Armenia increased payments to the state treasury by 3% per annum in the first half of 2024, providing a volume of AMD 900.4 billion.