Changes emerge among Armenia’s top ten taxpayers

PanARMENIAN.Net - In the first half of 2026, Armenia’s 1,000 largest taxpayers paid a total of 1.1 trillion drams into the state budget, about 123.8 billion drams more than in the same period last year.

According to the list published by the State Revenue Committee, major mining company Zangezur Copper Molybdenum Combine (ZCMC) nearly doubled its tax payments compared with January-June last year, transferring 41.6 billion drams to the state budget. The company returned to the top of the list after ranking sixth last year, Factor.am reports.

Mobile Center Art, a mobile phone retailer operating under the Mobile Centre brand, ranked second. It paid about 38.2 billion drams in taxes, 5.2 billion drams more than in the first half of 2025.

Ardshinbank ranked third with tax payments of 33.6 billion drams. The bank’s payments increased by 5.6 billion drams compared with the first six months of last year.

Gazprom Armenia, which holds a monopoly position in its sector, dropped one place in the ranking of the 1,000 largest taxpayers to fourth. The company paid 31.5 billion drams in taxes, about 3.5 billion drams more than in January-June last year.

Tobacco producer Grand Tobacco also lost ground, falling from second to fifth place. The company paid 28.9 billion drams in taxes, 1.5 billion drams less than in the first half of last year.

Ameriabank ranked sixth with tax payments of about 22.2 billion drams. The bank’s payments increased by around 750 million drams compared with the first six months of 2025.

Companies operating in the gaming sector took seventh and eighth places. Digitain, operating under the TotoGaming brand, ranked seventh. The company paid 17.9 billion drams in taxes, 6.9 billion drams more than in the first half of 2025. The company’s founder and owner is Vardges Vardanyan.

Soft Construct ranked eighth, significantly improving its position from 14th place last year. The company’s tax payments increased by 7.7 billion drams to a total of 17.5 billion drams. Soft Construct was founded by Soft Construct Limited, a company registered in an offshore jurisdiction and better known through the Vbet brand. Its beneficial owners are Vigen and Vahe Badalyan.

Mining company Kapan Mining and Processing Company also moved up the ranking, rising from 12th to ninth place. It paid 15.7 billion drams in taxes in the first half of 2026, 5.4 billion drams more than in the same period last year.

Imvbam, the renamed Wildberries company, rounded out the top ten largest taxpayers. The company ranked 29th in the same period last year. It thus climbed 19 places and increased its tax payments 2.6-fold to a total of 13.9 billion drams.

Most of the overall increase in tax revenues came from payments to the tax authority, which rose by 120.5 billion drams. Payments to the customs authority increased by about 3.3 billion drams.

In the first half of 2025, tax revenues had increased by about 85.7 billion drams compared with the same period of 2024.