In Armenia

Largest taxpayers in Armenia IT industry (2022/2023 Q1-3)

From January to September 2023, the 20 leading contributors to the IT sector’s tax revenue collectively paid a staggering AMD 40 billion. This noteworthy sum marks a substantial increase, nearly doubling the figures observed during the corresponding period in the previous year.

Veeam Armenia witnessed an exceptional sixfold surge in tax payments during the same period when contrasted with the previous year.

Largest IT Taxpayers in Armenia 2022/2023 Q1-3

Largest IT Taxpayers in Armenia 2022/2023 Q1-3

Among the 20 companies, tax payments experienced a decline in three instances, namely Picsart, Energize Global Services, and Quantori. Specifically, the reduction in tax payments at Energize Global Services can be primarily attributed to a decrease in income tax payments. In the case of Quantori, the decline is linked to reduced income tax payments, while at Picsart, it stems from a decrease in both income tax and overall income tax payments.

The computation of taxes for each company involved determining the variance between the total payments made from the state budget and the amounts reimbursed to the unified account, encompassing VAT and excise tax. This method allowed for a comprehensive assessment of the fiscal contributions made by each entity.

Data provided by Modex

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Elya is a passionate contributor to magazine, where she shares her expertise in technology through compelling content, stories, and insightful perspectives. With a strong background in development and software automation, Elya brings a wealth of knowledge and experience to her articles, providing readers with valuable insights into the ever-evolving tech landscape.
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