The State Revenue Committee Releases List of 1000 Major Taxpayers for 2019

The State Revenue Committee of Armenia has published the list of the 1000 major taxpayers for the 2019 fiscal year. The 1000 major taxpayers paid a total of 1 trillion 61 billion drams last year, which is an increase of 122 billion drams or 13% compared to 2018.

According to the results of the 2019 fiscal year, the list of major taxpayers in the country is headed by “Grand Tobacco” company, which paid 57.04 billion drams to the government budget. In the same period of 2018, the company had contributed 42.22 billion drams.

The second major taxpayer is “Zangezur Copper-Molybdenum Combine,” which paid 51.36 billion drams in taxes. In 2018, the company’s revenues amounted to 41.05 billion drams.

Following “Zangezur Copper-Molybdenum Combine” is “Gazprom Armenia,” with tax payments totaling 43.64 billion drams, compared to 39.98 billion drams in 2018. The fourth major taxpayer is “International Masis Tobacco,” which paid 19.22 billion drams in taxes during 2019, an increase from 13.13 billion drams in 2018.

Completing the top five is “JT International Armenia,” which contributed 16.44 billion drams in taxes. According to 2018 data, “JT International Armenia” ranked seventh with 13.99 billion drams.

The sixth place in the list of major taxpayers is occupied by “Flash” company with 15.99 billion drams, followed by “SipiEds Oil” at 14.05 billion drams, “Philip Morris Armenia” at 13.7 billion drams, and “Geopromining Gold” at 13.66 billion drams. The top ten is concluded by “Veon Armenia,” which paid 12.23 billion drams in 2019.

Among the ten companies in the top list, four represent the production and sale of tobacco, three are involved in the import of energy carriers, two are from the mining industry, and one is from the telecommunications sector.

Compared to 2018, “Alex Holding” was not included in the top 1000 taxpayers in 2019; it was replaced by “Veon Armenia.” This change occurred as “Alex Holding” became fragmented and turned into several companies such as “City,” “Alex and Holding,” “Alex Holding,” etc.

You can find the complete list of the 1000 major taxpayers for 2019 here.