ArmInfo. The five largest taxpayers in Armenia paid a total of 249.1 billion drams ($686.4 million) in taxes to the state treasury in January-September 2026, which is 24% higher than the same period last year. This is evidenced by data from 1,000 major taxpayers in the country published by the State Revenue Committee of the Republic of Armenia.
In particular, 104.5 billion drams were paid in VAT (a 14.2% year-on-year increase) and 78.2 billion drams in direct taxes (profit and income taxes), with a 15.2% year-on-year increase.
Mobile Center Art topped the list of Armenia's top 5 taxpayers, just like the previous year, having paid 64.3 billion drams to the state budget (a 22.5% year-on-year increase), of which 59.6 billion drams were in VAT.
Zangezur Copper and Molybdenum Combine (ZCMK) moved up from 3rd to 2nd place, having paid 60.8 billion drams to the state budget. (with a 68% year-on-year increase), of which 27.5 billion drams were direct taxes and 1.5 billion drams were VAT.
The Canadian company Grand Tobacco dropped from 2nd to 3rd place, having paid 46.2 billion drams to the state budget (a 0.6% year-on-year increase), of which 30.2 billion drams were excise taxes and 10.8 billion drams were VAT.
Gazprom Armenia maintained its 4th position, having paid 39.5 billion drams to the state treasury (a 13.2% year-on-year increase), of which 32.4 billion drams were VAT.
Ardshinbank rounded out the top five, having paid 38.1 billion drams to the state treasury, of which Of which 36.6 billion drams were direct taxes and 162.8 million drams were VAT. In total, 1,000 large taxpayers in Armenia increased their payments to the state treasury by 13.8% annually in January-September 2026, reaching 1.638 trillion drams ($4.5 billion). The total share of the TOP-5 taxpayers in this volume increased slightly year-on-year from 14% to 15.2%.
It should be noted that, based on the results of the first nine months of 2025, the TOP-5 included Mobile Center Art, Grand Tobacco, Zangezur Copper and Molybdenum Combine (ZCMK), Gazprom Armenia CJSC, and Ardshinbank. These top five countries paid a total of 201.4 billion drams ($526.5 million) in taxes to the budget, which is 15% lower than the same period last year.
