ARG Gas distribution tops list of Armenia’s 1000 largest corporate taxpayer in 2010

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Economy

03.02.2011, 02:02

ArmRosGazprom (ARG), the Russian-dominated national gas distribution company, tops the list of Armenia’s 1000 largest corporate taxpayer last year, having paid over 16.5 billion Drams in various taxes and duties, according to taxpayer rankings released by

YEREVAN, February 1. / ARKA /. ArmRosGazprom (ARG), the Russian-dominated national gas distribution company, tops the list of Armenia’s 1000 largest corporate taxpayer last year, having paid over 16.5 billion Drams in various taxes and duties, according to taxpayer rankings released by the State Revenue Committee (SRC). The company’s tax contributions, however, dropped from 18.4 billion Drams, paid in 2009, nonetheless, it ended up at the top of the 2010 taxpayer list.

According to the State Revenue Committee, 12.6 billion Drams of the amount were collected by tax authorities, 3.9 billion Drams by Customs officers. Over 2 billion Drams were direct taxes (income and profit taxes) and 14.3 billion as indirect taxes, including VAT and excise taxes; also 216.5 million Drams were collected as duties and other mandatory payments.

Alex Grig company is second in the SRC’s 2010 rankings, with almost 16 billion Drams paid in 2010, down from 16.1 billion Drams paid in 2009. Some 3.1 billion Drams were collected by tax officers and 12.9 billion Drams by Customs authorities.

The country’s top ten taxpayers list comprises also ArmenTel telecommunications company (trading as Beeline) that has paid 14.8 billion Drams in various taxes, up from 14 billion Drams paid in 2009.

K-Telecom (trading as VivaCell) is fourth with almost 13.6 billion Drams paid in 2010, down from 15.9 billion Drams paid in 2009. The list includes also the Zangezour coper and molybdenum combine and Flash oil products trader which have paid 12.6 billion and 11.7 billion Drams respectively. The list comprises also City Petrol Group oil trader that has paid 10.7 billion Drams and Electrical Networks of Armenian distributor that has paid 7.75 billion Drams.

Overall the 1000 largest taxpayers paid last year 432.8 billion Drams, up from 382.8 billion Drams in 2009.

According to the Ministry of Finance, 594.1 billion Drams were collected last year as taxes and state duties, 99.8% of the projected annual target. Proceeds from taxes and customs duties rose 13.7% from 2009 or 71.7 billion Drams due to increased VAT and income taxes. ($1 – 364.75 Drams). -0-