Armenia’s state revenue committee releases list of major taxpayers (List).

Armenia’s State Revenue Committee has released a list of Armenia’s major taxpayers for 2011, Tert.am reported.

The Zangezur Copper and Molybdenum Combine tops the list (AMD 29.8bn or a year-on-year 2.4-fold increase).

The ArmRusgasprom, the previous year’s leader, ranked 2nd in the 2011 list (AMD 21.8bn), followed by K-Telecom (AMD 17.7bn, a 30% increase). Alex Group ranks 4th in the list. The company owned by the MP Samvel Aleksanyan paid AMD 35m less than K-Telecom (a 10.7% increase).

Interestingly, direct taxes constitute only 5% of Alex Group’s total amount of taxes, but are 1% more than the previous year.

ArmenTel ranks 5th in the list (AMD 12.6bn, or 15% less than the previous year).

Fuel importers - City Petro Group and Flash Company - rank the 6th and 7th, respectively (AMD 10.5bn and AMD 10.4bn respectively). Although the two companies paid less taxes than the previous year, their direct taxes showed a sharp increase (47- and 27-fold respectively). Specifically, City Petrol Group’s direct taxes totaled AMD 369.5m last year against AMD 7.8m the previous year. Flash Company’s direct taxes totaled AMD 429.1m last year against AMD 15.3m the previous year.

Among Armenia’s ten major taxpayers are: Electric Networks of Armenia (AMD 9.6bn), Philip Morris Armenia (AMD 6.3bn), Armenia International Airports (AMD 5.9bn).

Last year, Armenia’s 100 major taxpayers paid a total of AMD 299.7bn as taxes – a year-on-year 13.7% increase.

Also, 72 of the 100 taxpayers reported a year-on-year increase in their tax payments, with the rest 28 reporting a decrease. Among the 72 economic entities the ones working in the mining industry, as well as banks, are distinguished.

Last year, Armenia’s 1,000 major taxpayers paid a total of AMD 483.5bn to the state budget against AMD 432.8bn in 2010 (an increase of AMD 50bn or 11.7%).

In 2012, Armenia’s government plans to increase budget revenues by AMD 101bn.