Changes in the List of Major Taxpayers Published by the State Revenue Committee: "Gazprom Armenia" is No Longer the Leader

“Gazprom Armenia” is no longer the largest taxpayer in Armenia. In the list of major taxpayers published by the State Revenue Committee of the Republic of Armenia, a different company occupies the top position for the first time in five years.

In the period from January to December 2018, the leading taxpayer was “Grand Tobacco” company, which paid a total of 42,222,227,000 AMD in taxes during the past year. In contrast, the tax revenues of “Gazprom Armenia” in 2018 amounted to 39,982,390,000 AMD, placing the company in third position among major taxpayers.

The “Zangezur Copper-Molybdenum Combine” has also overtaken “Gazprom Armenia,” having moved up from the fifth position it held in 2017. This company paid 41,047,831,000 AMD in taxes in 2018, a significant increase from the 18.7 billion AMD it paid in 2017.

In fourth position among major taxpayers is “CPEs Oil Corporation,” which operates in the liquid fuel market. Its tax payments increased by 5.8 billion AMD compared to 2017 (12,600,000,000 AMD in 2017 and 18,403,000,000 AMD in 2018).

The fifth position is occupied by “Geopromining Gold,” which saw its tax payments rise by 3.4 billion AMD (12,500,000,000 AMD in 2017 compared to 16,819,631,000 AMD in 2018).

The sixth position is held by “Alex Holding,” owned by businessman Samvel Aleksanyan. Unlike previous companies, this firm paid less tax in 2018, totaling 16.2 billion AMD compared to 21.5 billion AMD in 2017.

In seventh position is “JTI Armenia,” eighth is “Philip Morris Armenia,” and ninth is “International Masis Tobacco.” The top ten major taxpayers is concluded by “Flash” company.

Notably missing from the top ten of major taxpayers in 2018 is “Armenia’s Electric Networks,” which was the third largest taxpayer in Armenia in 2017, but fell to the eleventh position based on last year’s data.

It is significant that three of the companies included in the top ten major taxpayers for 2018 are engaged in the production, processing, and import of tobacco.