ZCMC substantially cut tax payments to Armenia's budget
The taxes paid by the Zangezur Copper Molybdenum Combine (ZCMC) to Armenia’s state budget have significantly reduced, according to data released by the State Revenue Committee on Friday.
The ZCMC remained Armenia’s top taxpayer in 2023, contributing 70.8 billion drams to the state budget.
However, the taxes paid by the mining company were down by more than 50% from 2022, when the ZCMC paid 143.9 billion drams in taxes.
The decline is attributed to a large sum paid by the ZCMC to the state budget as part of a criminal case in 2022, as well as export duties introduced by the government and a decrease in global copper prices.
Incidentally, the Zangezur Copper Molybdenum Combine has granted 25% of its shares to the Armenian government.
Related news
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- ZCMC cut tax payments to Armenia's budget after Trotsenko's takeover – Pastinfo
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