Head of RA State Revenue Committee on reasons for ZCMC removed from list of 1,000 major taxpayers 

ArmInfo.  Chairman of the State Revenue Committee (SRC) of Armenia Eduard Hakobyan explained why the Zangezur Copper and Molybdenum Combine (ZCMC), which has held a leading position in the list of the largest taxpayers in Armenia for many years, was not included in the list in the first quarter of this year. The head of the committee parried the statement of opposition MP Artur Khachatryan, according to whom .

, Eduard Hakobyan explained today. In addition, since the company made significant tax advance payments in 2024, part of the amount paid was returned in the first quarter of 2025.

, - the chief tax officer pointed out.

The company's press service had previously made a separate statement on the matter. , - the report said.

The top ten taxpayers for the first quarter were headed by Gazprom Armenia, which paid 19.9 billion drams (a little more than $ 51 million). In second place is the mobile equipment dealer Mobile Centre Art (16.6 billion drams, or $ 42.5 million), in third place is the tobacco factory Grand Tobacco (12.1 billion, or $ 31 million). Another tobacco production - International Masis Tabak, owned by the same owners, took 8th place (4.46 billion drams, or $ 11.5 million). In 4th place is the oil product distributor CPS (7 billion drams, or $18 million), in 5th place is the chain of furniture and home appliance stores "Pretty Way" (Vesta, 6.5 billion drams, or $16.8 million), in 6th place is the online marketplace Wildberries (5.7 billion drams, or $14.6 million), in 7th place is the supermarket chain "Yerevan City" (5.2 billion drams, or $13.3 million).  The top ten is rounded out by "Electric Networks of Armenia" (4.4 billion, or  $11.3 million) and the IT company of the gambling industry "Soft Construct" (4 billion drams, or $10.3 million).

Meanwhile, ZCMC topped the list of 1000 largest taxpayers in Armenia for 2024. The plant has been ranked first in this list for four years in a row.

Zangezur Copper Molybdenum Combine CJSC (ZCMC) is the largest mining company in Armenia. The plant operates the Kajaran copper-molybdenum deposit.

In December last year, RA Prime Minister Nikol Pashinyan reported on his Facebook page that ZCMC transferred 33 billion 249 million drams to the state budget as government dividends.

"Please note that this is plus the taxes paid as a share of the  profit, because since 2021 the government has been a shareholder of ZMMC, as I promised," the Prime Minister noted.

Earlier, Industrial Company JSC acquired 60% of ZCMC shares and donated 25% of its share to the Armenian government on September 30, 2021. On March 24, 2022, the government received another 6.875% of shares as a gift, thus becoming the owner of 21.875% of shares or 1/5 of the share in the plant.