Zangezur Copper and Molybdenum Plant- top taxpayer in Armenia

ArmInfo.Zangezur Copper and Molybdenum Plant (ZCMP) continues to rank at the top list of 1000  large taxpayers in Armenia, maintaining its leadership from January to September 2024, as it did in the previous year. This is evidenced by data from the State Revenue Committee.

During the reporting period, the enterprise increased tax payments to  the state treasury by 59%, totaling AMD 83.6 billion. Out of this  amount, 1.7 billion was paid in customs duties, 26.6 billion in  direct taxes (including profit tax and income tax), and over 2  billion in indirect taxes (including VAT and excise tax).  Mobile  Center Art moved up to second place from fourth the previous year,  having paid AMD 49.1 billion to the state treasury. This marked an  annual growth of 63.1%, with over 1 billion in customs duties, 3.7  billion in direct taxes (including profit tax and income tax), and  44.7 billion in VAT. Holding onto third place, as in the previous  year, was the Armenian-Canadian enterprise "Grand Tobacco", which  paid AMD 39.7 billion to the state budget. This represented an annual  growth of 28%, with 2.5 billion customs duties, 5.4 billion in direct  taxes (including profit tax and income tax), and 34 billion in  indirect taxes.

Gazprom Armenia CJSC dropped from second to fourth place, sending AMD  36.3 billion to the state treasury, marking an annual decline of  8.1%. Of this amount, AMD 157.2 million were paid in customs duties,  4.2 billion drams in direct taxes, and 30.8 billion drams in VAT. The  top five, as in the previous year, is rounded out by Pretty Way LLC  (Vesta electrical and household appliances store), which contributed  AMD 27.9 billion in tax payments (showing an annual growth of 19.2%),  with 21.7 billion coming from customs duties.

In total, the top five paid AMD 236.9 billion ($611.6 million) in  taxes to the budget, which is 34.3% higher than the figure for the  previous year. Of this amount, AMD 46.2 billion went to the state  treasury in the form of direct taxes (including profit tax and income  tax) and AMD 126.2 billion in indirect taxes (including VAT and  excise tax).  In the list of the 1000 largest taxpayers, the share of  the top five increased from 13.9% to 17.9% over the year.

According to the State Revenue Committee, the 1,000 largest taxpayers  of Armenia paid AMD 1.323 trillion ($3.4 billion) to the state  treasury in January-September 2024, which has not changed  significantly over the year.  Note that the calculated exchange rate  of the dram as of September 30, 2024 was AMD 387.29/$1.