ARG MOVES TO FOREFRONT AS BIGGEST CORPORATE TAXPAYER IN QUARTER ONE

ARMENPRESS
Apr 26 2007

YEREVAN, APRIL 26, ARMENPRESS: According to the latest rating of
Armenia’s biggest corporate taxpayers, issued by the State Taxation
Service (STS), the joint Russian-Armenian natural gas operator
ArmRosGazprom (ARG) was the biggest taxpayer in the first quarter of
the year outrunning the two ‘traditional’ biggest corporate taxpayers,
owned by foreign investors: the Zangezur Copper and Molybdenum Combine
and the ArmenTel national telecommunications operator.

ARG paid in the first three months a total of 6. 8 billion Armenian
Drams in taxes and customs dues, of which only 91 million Drams as
customs dues.

The amount of direct taxes-income and profit taxes- was 305.5 million
Drams, indirect taxes-VAT- were 6.3 billion Drams.

Last year the government’s tax revenues grew considerably, but
they still made up less than 16 percent of Gross Domestic Product,
a proportion which is very low even by ex-Soviet standards.