In the first half of 2026, the list of the largest taxpayers in Armenia underwent serious reorganization. Industrial giants regained their dominant positions, while IT, gaming and banking continued to generate huge tax revenues, eclipsing some of last year’s leaders.
According to the results of the semester, Zangezur Copper-Molybdenum Combine (ZPMK) returned the title of the main taxpayer of the country. The company transferred more than 41.7 billion drams to the state budget, registering a 104 percent increase compared to the previous year. In second place is the “Mobile Center Art” company, engaged in the import and re-export of mobile phones to Russia, with an index of around 38.1 billion drams. “Ardshinbank”, one of the leaders of the Armenian banking sector, completes the top three, whose tax payments amounted to 33.6 billion drams.
Major players in the energy and industrial sectors “Gazprom Armenia” (31.5 billion drams) and “Grand Tobacco” (28.9 billion drams) occupy strong positions in the top ten. Among the top ten are also “Ameriabank” (22.1 billion drams), IT and gaming industry leaders “Digitain” (17.9 billion drams) and “Soft Construct” (17.4 billion drams), as well as Kapan Mining Combine (15.7 billion drams) and “IMVBAM” company (13.9 billion drams). The latter is the Armenian operating company of the famous Wildberries e-commerce platform.
The analysis of the data of the State Revenue Committee shows that there are noticeable financial and structural shifts in the market. The IT companies “Soft Construct” and “Digitain” together provided additional tax revenues of about 14.4 billion drams. The image of the e-commerce market is remarkable. although the payments of “Wildberries” LLC decreased sharply by about 90 percent, but thanks to the sharp increase in the indicators of the operating company “IMVBAM”, the total tax revenues of the platform actually increased by 1.4 billion drams.
In contrast to this rise, some businesses have experienced a serious decline. The largest decline was registered by the company “Pretty Way”, engaged in the import of electronics, with a drop of 85 percent or 9.6 billion drams. “Art Vine”, “Flash” and “Unibank” also have significant decreases.
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