ARMENIAN INTERNAL REVENUE SERVICE PUBLISHED LIST OF 1000 LARGEST TAXPAYERS OF REPUBLIC

ArmInfo News Agency, Armenia
Nov 3 2006

The Armenian Internal Revenue Service has published a list of the
1000 largest taxpayers of the republic in Jan-Sep 2006.

The Zangezur Copper-Molybdenum Complex whose payments to the budget
in Jan-Sep 2006 made up 22.737 bln AMD takes the 1st place on the
list. The "ArmenTel" CJSC ranks next – 13.004 bln AMD. The 3rd place
is taken by the "ArmRosgazprom" CJSC – 8.364 bln AMD. The "Flesh" oil
trading company is in the 4th place – 7.196 bln AMD. "K-Telecom", the
second telecom provider in Armenia, paid 5.854 bln AMD and held the
6th position, leaving behind the "Electricity Networks of Armenia"
CJSC which held the 8th place – 4.453 bln AMD. The Armenian Nuclear
Power Station, the "International Airports of Armenia", the "Yerevan
Brandy Factory", the "Armenia-Lada" and "Karkomavto" are in the top
twenty.

This list changes the idea about competitive companies. For example,
the "Araratcement" company was always said to take lead over "Mika
Cement" by its outputs, but the amount of taxes paid changes this
picture. Thus, if the "Mika Cement" Company paid 271.4 mln AMD and
held the 117th place, the "Arararatcement" is in the 130th place with
247.5 mln AMD tax payments. The "Yerevan Beer" held the 28th place –
976 mln AMD, and the "Kotayk Beer Factory" is in the 58th place – 531
mln AMD. The "Ararat Cognac Wine Vodka Factory of Yerevan" held the
168th place – 188.4 mln AMD. It should be noted for comparison that
the Yerevan Brandy Factory is in 14th place – 1.8 bln AMD. The "Multi
Group Concern" which belongs to Gagik Tsarukyan, a famous
entrepreneur, is in the 247th place on the list and its taxes made up
only 133 mln AMD. The latter has left behind the Charitable Fund for
Micro-Entrepreneurship Development. "Mika Armenia Trading", another
large Armenian concern has held the 21st place – 1.341 bln AMD.