K-TELECOM TOPPING LIST OF LARGEST TAXPAYERS OF ARMENIA IN JAN/SEPT 2008

ARKA
Oct 23, 2008

YEREVAN, October 23. /ARKA/. K-Telecom (Viva-Cell-MTS brand) mobile
telecommunication operator topped the list of the largest taxpayers
of Armenia in Jan/Sept 2008.

According to the Government affiliated tax agency, the company has
sent AMD 23.1 billion to the state budget over the period between
January and September against AMD 10.1 billion paid at the same period
a year earlier.

The tax agency says AMD 19.9 billion was paid as taxes and 3.2 billion
as customs duty in Jan-Sept 2008.

Indirect taxes amounted to AMD 13 billion, including VAT and excise
duty.

Another 1.4 billion was paid as other duties.

The second biggest taxpayer is Zangezur Copper Molybdenum Combine
with its AMD 12.6 billion transferred to the state budget in Jan-Sept
2008. Of this amount, 10.4 billion was paid as taxes and 2.2 million
as customs duty. The company was atop the last year’s list with AMD
20.1 billion.

ArmRosgasprom follows Zangezur in the Jan/Sept 2008 list. The company
sent 12.1 billion to the state budget at the mentioned period of
this year against AMD 16.5 billion paid the same period of the
previous year.

ArmenTel Telecommunication Company contributed to the state budget
AMD 11.6 billion in Jan/Sept 2008 against 14.2 billion s year
earlier. Alex-Grig paid AMD 8.03 billion, Gor Petrol Service and
Flash oil traders added AMD 7.9 billion and 7.4 billion to the budget.

Armenian Electric Networks transferred AMD 4.7 billion and Armenian
Railways AMD 3.7 billion to the state budget in Jan/Sept 2008. ($1 –
AMD 308.68)