Giant Companies Increased their Taxes
RA State Revenue Committee (SRC) tax service has released the list of Armenia’s 1000 biggest taxpayers, based on the results of the first quarter of 2016. Those interested in economy might have managed to get acquainted with the list. However, it’ll be touched upon, both from the perspective of biggest companies and general regularities.
Tax indices of Armenia’s 20 biggest enterprises may serve as a ground for comparison. These are enterprises, volume of taxes of which exceeded AMD 1 billion (in the previous year’s first quarter the number of those paid AMD 1 billion and more, comprised 23).
The biggest taxpayer is Gazprom Armenia Company with taxes comprising AMD 15.6 billion. Difference in taxes between the gas monopolist and the company on the second place is considerable—AMD 10.7 billion.
The third company is also noteworthy—Armenia International Airports, regarding the fact that in the first quarter of 2015 it was the 22nd. Armenia International Airports have increased taxes 5 times, reaching to AMD 4 billion 920 million.
Former giant, and the second biggest taxpayer as of previous year, is Zangezur Copper Molybdenum Combine, has yielded to the 11th place. The company has shortened taxes about its half, reducing from AMD 4 billion to AMD 2 billion.
Despite reduction of taxes by 10.9% (AMD 500 million), Electric Networks of Armenia (ENA) is the third in the list, with taxes comprising AMD 4 billion 96.8 million. Among the 20 enterprises Armenia International Airports is the one increasing its taxes by AMD 3.8 billion. In terms of percentage Rosneft Armenia is the leader. The company launched supply of petrol and diesel fuel to Armenia from last year and reached taxes from AMD 21.9 million to AMD 1 billion 23.9 million.
Leader by reduction, as already mentioned, is Zangezur Copper Molybdenum Combine. Besides it, another four enterprises have reduced their tax volumes as well. ArmenTel (Armenia Telephone Company) has reduced its taxes by AMD 753.2 million or 18%, Alex Grig, affiliated to NA MP Samvel Aleksanyan (“Yerevan city” supermarkets)—by AMD 626.5 million or 15.9%, Electric Networks of Armenia (ENA)—by AMD 500 million or 10.9%.
As it may be observed, Armenia’s trade banks aren’t involved in the 20 biggest taxpayers. The biggest taxpayer bank—Acba Credit Agricole Bank, has paid taxes and penalties comprising AMD 998.2 million and it’s the 21st in the list. Ardshininvestbank follows it (AMD 597.4 million—22nd), then VTB Armenia (AMD 889.5 million, 26th), Ameriabank (AMD 843.5 million, 27th) and HSBC (AMD 782.5 million, 30th).
Armenia’s 21 trade banks altogether paid taxes and penalties to the state budget comprising AMD 9 billion 324.9 million in the first quarter of 2016. It’s less by AMD 416.8 million or 43% from the index for the same period of last year.
A few conclusions may be drawn from all this. Thus, 1000 supergiant enterprises altogether paid to the state budget taxes and penalties comprising AMD 156.5 billion in 2016. Greater part of that amount—AMD 116.9 billion have been collected by tax authorities, and the rest—by customs authorities.
1000 biggest taxpayers of the Republic, provided 67.7% of RA state budget (in January-March 2016 state budget had tax incomes comprising AMD 231 billion). Moreover, if total income has decreased by 0.6% as compared to the first quarter of 2015, taxes by 1000 biggest taxpayers have increased by 2.8% or AMD 4.2 billion.
Noteworthy enough, direct taxes of biggest companies have recorded double digit growth—14.3%. They increased by AMD 7.1 billion and reached AMD 56.7 billion. Indirect taxes (VAT, excise tax) have decreased by 0.8% or AMD 701 million.
As a result, specific gravity of taxes, paid by 1000 biggest taxpayers have recorded growth by 3.7 percentage points. However, despite that, indirect taxes prevail: their specific gravity comprises 53.8% (AMD 84.2 billion). Direct taxes comprise 36.2%, other taxes and penalties—9.8%, fixed fees—0.2%.
By Babken Tunyan
