3.1 Billion Dram Taxes from 71 International Corporations to Armenia's State Budget

3.1 billion drams in taxes have been recorded from 71 international corporations to Armenia's state budget. This was reported by the head of the State Revenue Committee, Edward Hakobyan, on his Facebook page.

As of July 1, the tax base of non-resident entities providing electronic services to individuals in Armenia amounted to approximately 15.6 billion drams, from which over 3.1 billion drams of VAT have been accumulated for payment to the state budget.

The electronic VAT system has been utilized by 71 major international corporations. Thanks to the electronic VAT system implemented by the State Revenue Committee, large international corporations are increasing contributions to Armenia's state budget revenues and promoting an increase in tax transparency.

Hakobyan's post states: “By using the services of corporations such as Google, Facebook, TikTok, Spotify, Amazon, Netflix, Ebay, and others, you are also contributing to the increase of Armenia's state revenues.”