‘Miracles’ of the List of Biggest Taxpayers
We have already touched upon the list of the biggest taxpayers issued by RA State Revenue Committee (SRC). However, the list is so large, that there is much material for observation.
We have covered indices of 200 biggest taxpayers out of 1000. These are large enterprises, which paid taxes and duties to the state budget with the total amount of AMD 290 million for the first semester 2016. In other words, these are Armenia’s mega companies. Companies holding the first 200 positions in the list paid AMD 261.3 billion to the state budget. The biggest 1000 taxpayers made a payment with a total amount of AMD 347.6 billion, and tax receipts in the first semester comprised AMD 512.6 billion. Thus, 200 biggest taxpayers provided more than a half of tax receipts. Of course, change is different in all of them. There are companies, taxes paid by which have undergone slight changes, and there are those, which considerably decreased taxes (e.g. Zangezur Copper Molybdenum Combine).
77 companies out of 200 observed by us paid fewer taxes this year, as compared to the previous year. In percentage the biggest decrease was recorded by “Renco Armestate” company, taxes paid by which decreased by 79.2%, reducing to AMD 389 million from AMD 2.8 billion. However, there are also companies, which recorded rapid growth. Not by few times, but by dozens of times.
Among the first 200 taxpayers we singled out the companies, which recorded most tax growth in percentage.
Particularly, companies holding the first 10 places are rather noteworthy. One common thing unites them, nether of the 10 was involved in the list of previous year’s biggest taxpayers.
And how do we calculate that growth, if no data are available? In the list of previous year’s taxpayers the company to pay the fewest taxes paid AMD 46.5 million i.e. growth champions paid even less than AMD 46.5 million, we took 46 million as a basis and compared this year’s index with 46 million. Thus, it’s more probable that the companies paid even less or didn’t pay at all throughout the first semester of the previous year, i.e. our growth index for these newly appeared companies is more modest, than it really is.
Accordingly, a rather curious snapshot is observed.
“Akvilon Trade” company is on the first place. In the first semester of ongoing year it paid AMD 1 billion 361 million, and headed the list of biggest taxpayers.
This company isn’t found in the previous year’s list. Moreover, upon State Register data the company was registered in June 2015, i.e. more possibly it didn’t pay any taxes in the first semester of the previous year.
Name of this company isn’t registered anywhere. It’s impossible to clarify its functioning. Judging from the name and the circumstance that greater part of taxes was collected by tax bodies, supposedly, the company provides import service.
In case of a range of companies, which weren’t found in the previous year’s list, some details are provided. For instance, “Salsa Development” is a construction company belonging to Argentinean Armenian Eduardo Eurnekian, which provides construction of the new Government building. Some details are known about “Contour Global,” “Hrazdan Cement” as well. Name of “Armenian Mining Contractor” already hints its operation. The question of Gagik Markosyan was clarified in our pervious publications: to all probabilities, he’s already former director of Armenian NPP, who is charged with large volume theft.
However, others are unknown. For instance, “Armstrucom” company with AMD 508.6 million taxes, which was registered in 2015. Or another vivid example—“S&M.” It was registered in April of ongoing year and was ranked the 176th with AMD 327.6 million taxes. Surely, establishment of new companies is good. However, the experience showed, when a company with functioning of a few months records circulation of a few millions and is immediately becoming a biggest taxpayer, here, slightly said, dark sides are much.
As the Government (as stated) adopted the policy of transparent operation, uncovering of hidden interests, fight against monopolies and other vicious phenomena, would better make changes in the list of biggest taxpayers. For instance, add 1-2 tables, which would include income and circulation of these companies, field of activity, main shareholders (if possible) and at least 1 contact data.
By Babken Tunyan
