Monday, January 29 2024 17:18

ArmInfo.The taxes paid by TOP-10 of the list of 1000 largest taxpayers of Armenia make up about  20% of the budget; for example, TOP-10 in Germany pay only 2.5% of taxes. In 2021, the figure in Armenia was 85%, and in 2022 it was only 58.2%. A 1.5-fold decline indicates successful economic diversification.

Chairman of the Republican Union of Employers of Armenia, economist Gagik Makaryan stated on January 29 during a discussion on the topic "Trends in the economic development of the Republic of Armenia in the context of the economic distribution of large taxpayers."

According to Makaryan, there are only 7,650 companies in Armenia that  shape the economic structure and have a significant impact on the  development of the economy: 6,400 are small companies, 1,060 are  medium-sized companies and 220 are large ones (with 251 employees or  more). At the same time, 63,700 legal entities are officially  registered in Armenia, including 56 thousand micro-enterprises, of  which approximately 70% or 40 thousand do not have employees, "that  is, they do not have a significant economic contribution, but provide  employment".

Analyzing the economic developments of the last 10-12 years in the  republic, the expert states that during this period there were no  significant changes in the economic structure, import/export did not  change either, for many years, there are the companies of the same  industry and the same products. "Armenia mainly imports fuel,  equipment, conveyors, cars, precious and semi-precious metals,  medicines, plastic and metal products, optical equipment, dairy  products, grains, textiles and so on. Mining products, alcoholic  beverages, cigarettes, diamond products, processed metal products,  textiles, fish products, vegetables, canned food and so on are  exported," he notes.

Makaryan also sees no changes in the  TOP-15 of the list of large  taxpayers for 2023, published recently by the State Revenue  Committee. In particular, the mining industry is again in the first  place. "Zangezur Copper-Molybdenum Combine" CJSC leads the list for  the second year in a row. The TOP-10  is dominated by companies  producing tobacco products. The banks have made progress in the list.  At the same time, despite the many rumors about the construction boom  in the Republic of Armenia, construction companies are ranked no  higher than 50th.

As the expert notes, in total there are 1010 companies on the list of  large taxpayers, which provide 82% of tax revenues of the state  budget: the first hundred paid $2.6 billion in taxes, all together -  $4 billion. That is, he notes, the role of micro-enterprises is  small. The last company on the list paid $800 thousand in taxes.  "Of  course, among these 1010 there are also small companies with up to 50  employees, they areon the list of large taxpayers thanks to their  fantastic management. The economic distribution of Armenia is such  that small enterprises are squeezed out of the list of large  taxpayers," Makaryan clarifies.

The Chairman of the Republican Union of Employers of Armenia draws  attention to the fact that a household appliances store is included  in the list. This, in his opinion, is the result of anti-Russian  sanctions.  The inclusion of Wilburys marketplace, "Adjarabet"  bookmaking company, "Decor" furniture import and sale stores, and  "Andako" drinks import and sale in the list is not an indicator of  economic growth either.

By diversifying the market, the Republic of Armenia should develop  new branches of the economy, create new products that will enable  finding new partner countries, Gagik Makaryan is convinced.