Prime Minister Nikol Pashinyan reported a sharp increase in Armenia’s corporate income tax revenues, highlighting strong long-term growth driven by economic expansion and a reduction in the shadow economy during his administration since 2018.

Speaking at a Cabinet meeting, he presented corporate income tax (profit tax) collection data, noting that as of April 20, 2026, it amounted to 265.8 billion drams (roughly $700 million USD), marking a significant increase compared to previous years.

April 20 of each year is the deadline for corporate income tax payments for companies in Armenia.

“I would like to remind you that after the 2018 revolution, we reduced the corporate income tax rate in Armenia from 20 percent to 18 percent,” the Prime Minister said.

“As of April 20, 2026, 265.8 billion drams in corporate income tax was paid compared to the previous year,” he added.

According to the Prime Minister, a significant increase has been recorded over the long term.

“Compared to 2017, corporate income tax collections increased by 5.4 times, or 444 percent,” Pashinyan emphasized.

In his assessment, this growth is driven by several factors.

“This is about two things. First, part of the previously shadowed turnover has been brought out of the shadow economy and is now entering the state budget, serving public needs,” the Prime Minister noted.

At the same time, Pashinyan said the increase is also due to expanded economic activity.

“On the other hand, we have ensured economic growth, and since 2018, Armenia has recorded growth rates higher than both global averages and those of the Eurasian Economic Union,” he said.