According to the results of the first quarter of 2026, the “Electric Networks of Armenia” company was left out of the top ten of the country’s largest taxpayers, despite the actual increase in payments to the state budget by 100 million drams. This picture was recorded against the background of the overall significant increase in the tax revenues of large businesses and the change of the leader in the national ranking.
During the months of January-March, the 1000 largest companies paid a total of more than 459.2 billion drams to the state treasury, which is about 49.9 billion drams higher than the figure of the same period last year (more than 409.3 billion drams were collected in the first quarter of 2025). In this context, the HEC index deserves special attention. although officially the company dropped from the 9th place to the 14th place, in absolute terms it transferred 4.5 billion drams to the state budget, which is 100 million drams more compared to the same period of the previous year, when payments amounted to 4.4 billion drams.
The list was headed by the company “Mobile Center Art”, which sells electronics, paying 21.3 billion drams to the state budget. A year ago, this figure was 16.5 billion drams, which secured the company the second position. Former leader “Gazprom Armenia” CJSC fell to second place, paying 19.4 billion drams in taxes. Zangezur copper-molybdenum combine completes the top three with a deduction of 15.4 billion drams, moreover, in the first quarter of last year, this enterprise was not even included in the list of 200 largest taxpayers.
The companies “Grand Tobacco” (11.4 billion drams) and “Soft Contract” (8 billion drams) were also included in the top ten. the latter has improved its position, moving up from the tenth position. They are followed by “IMVBAM” representing Wildberries (6.8 billion drams), “Digitain” (6.7 billion drams), “Philip Morris Armenia” (6.3 billion drams), as well as the “City” supermarket chain and the mining company “Teghut”, each supplementing the budget with 6.1 billion drams.
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