Five insurances companies on list of Armenia’s 1000 largest corporate taxpayer last year

YEREVAN, February 3, /ARKA/. Five insurances companies in Armenia were placed on the list of Armenia’s 1000 largest corporate taxpayer last year, having paid a total of 461.4 million Drams in various taxes, according to taxpayer rankings released by the State Revenue Committee (SRC).

According to SRC, 95.3% of the paid taxes or 439.8 million Drams were direct taxes. At that insurance companies accounted only for 0.1% of all taxes paid by the largest 1000 corporate taxpayers in 2010.

The list comprises Ingo-Armenia insurance company that paid 145.2 million Drams ( 524^th position), ISJ (89 mln. Drams, 787^th position), Rosgosstrakh-Armenia (88.5 million Drams and 789^th position), Griar Insurance (69.7 million, 951^st position) and Cascade Insurance (69 million Drams and 964^th position). In 2009 the five companies paid a total of 807.2 million Drams in taxes. Overall the 1000 largest taxpayers paid last year 432.8 billion Drams, up from 382.8 billion Drams in 2009.

According to the Ministry of Finance, 594.1 billion Drams were collected last year as taxes and state duties, 99.8% of the projected annual target. Proceeds from taxes and customs duties rose 13.7% from 2009 or 71.7 billion Drams due to increased VAT and income taxes. There are 9 operating insurance companies in Armenia ($1 – 364,75 Drams).  -0-