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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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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