ZANGEZUR COPPER AND MOLYBDENUM ENTERPRISE BIGGEST ARMENIAN TAXPAYER BY RESULTS OF 2006

YEREVAN, JANUARY 26, NOYAN TAPAN. The State Tax Inspection adjunct to the Armenian government published the list of 300 biggest tax paying companies by the results of 2006. The Zangezur Copper and Molybdenum Enterprise tops the list: the total amount of taxes and duties paid by this enterprise makes more than 32 bln 805.5 mln drams (over 78.8 mln USD). The next three places are occupied by the following companies: ArmenTel which provides public services - 20 bln 257.3 mln drams, ArmRusgazprom - 13 bln 733.4 mln drams, and mobile phone communication operator K-Telecom - 9 bln 412 mln drams. Electric Networks of Armenian is in 8th place - about 5 bln 250 mln drams.

Flash (about 9 bln 400.5 mln drams) and City Petrol Service (over 8 bln 784.8 mln drams) - the companies mainly engaged in fuel import - are in 5h and 6th place respectively of the 2006 Big Taxpayer List, while cigaratte importing Pares Armenia is in 7th place (7 bln 53.7 mln drams). Salex Group, a company that imports and sells foodstuffs, is in 9th place (more than 5 bln 80.4 mln drams), and local cigarette producers Grand Tobacco (about 4 bln 438.3 mln drams) and International Masis Tobacco (about 4 bln 238 mln drams) are in 10th and 11th place respectively.

By last year's results, the biggest taxpayer in electricity generation sector was the Armenian Nuclear Power Plant (12th place), in production of alcoholic drinks - Yerevan Brandy Company (15th place), car import - Armenia Lada (16th place), banking sector - HSBC Bank Armenia (27th place), food production - Grand Candy (33rd place), beer, juice and soft drink production - Yerevan Beer (35th place) and in constriction sector - North Island (62nd place).