Wednesday, 26 April 2006

ARMENIAN TAX SERVICE RELEASES CORPORATE RANKINGS

Published in News Digest

By empty (4/26/2006 issue of the CACI Analyst)

The Armenian State Taxation Service released a report on April 25 ranking the country\'s top corporate taxpayers, RFE/RL\'s Armenian Service reported. The report revealed that thee foreign-owned firms head the list of the country\'s 300 leading corporate taxpayers -- the German-owned Zangezur Copper and Molybdenum Combine, the Greek-owned ArmenTel telecommunications company, and the ArmRosGazprom natural-gas concern, controlled by Russia\'s Gazprom gas monopoly -- with a combined total payment of 12 billion drams ($27 million) in taxes and import duties in the first quarter of 2006 alone. Two Armenian-owned companies specializing in fuel imports are in fourth and fifth place, paying slightly less than 2 billion drams each.
The Armenian State Taxation Service released a report on April 25 ranking the country\'s top corporate taxpayers, RFE/RL\'s Armenian Service reported. The report revealed that thee foreign-owned firms head the list of the country\'s 300 leading corporate taxpayers -- the German-owned Zangezur Copper and Molybdenum Combine, the Greek-owned ArmenTel telecommunications company, and the ArmRosGazprom natural-gas concern, controlled by Russia\'s Gazprom gas monopoly -- with a combined total payment of 12 billion drams ($27 million) in taxes and import duties in the first quarter of 2006 alone. Two Armenian-owned companies specializing in fuel imports are in fourth and fifth place, paying slightly less than 2 billion drams each. The Lebanese-owned wireless operator VivaCell, the Russian-owned Armenian electricity-distribution network, and the Medzamor nuclear power plant were also included among the top 10 corporate taxpayers. The State Taxation Service report began disclosing the quarterly corporate-tax filings in 2005 as part of a broader effort to increase greater efficiency and transparency in the tax-collection process. (RFE/RL)
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