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In 2023 the turnover of the IT sector in Armenia at current prices amounted to AMD 837 billion, a AMD 252  billion or 43% more than in the previous year. In 2023 the turnover of the largest IT company operating in Armenia was about AMD 29.4 billion,  28.6% up from a year before. Overall, in […]

Note: The taxes paid by each company is calculated as the difference between the total amount paid by the company and the amounts returned to the unified account in terms of VAT and excise tax.

In 2023, RA banks registered AMD 230 billion net profit which is 9% less than last year. Ardshinbank registered the biggest profit with AMD 62.7 billion. All banks, except Artsakhbank and Armswissbank, operated with profit, however 6 out of 16 commercial banks recorded a decrease in net profit.

After the outbreak of the Russian-Ukrainian war, thousands of IT professionals left Russia and settled in Armenia. As a result, by the end of 2022, the number of registered IT professionals in Armenia increased by almost 46% compared to January 2022. However, due to the continuing devaluation of AMD, the outflow of Russian professionals, a […]

Note: The taxes paid by each company is calculated as the difference between the total amount paid by the company and the amounts returned to the unified account in terms of VAT and excise tax.

In January-September 2023, 69 IT companies were included in the list of 1000 large taxpayers. In January-September 2023, IT companies from the list paid AMD 59 billion in taxes or 4.2% of the total income supervised by the State Revenue Committee (SRC). 69 IT companies paid AMD 8.4 billion as profit tax, of which 20% […]

In January-September 2023, RA banks registered AMD 215 billion net profit, which is about 11% more than last year. The highest profit was registered by Ardshinbank (AMD 56.9 billion). All banks made a profit, but 6 out of 18 commercial banks recorded a decrease in net profit.

It is noteworthy that in the case of individual companies, transactions with related parties may not be expressed in real prices, which may have a significant impact on the evaluation of the company’s performance.

In January-June 2023, RA banks registered AMD 142 billion net profit, which is about 1.2 times higher than last year. The highest profit was registered by Ardshinbank (AMD 38.2 billion). All banks made a profit, but 4 out of 18 commercial banks recorded a decrease in net profit.

In January-March 2023, 65 IT companies were included in the list of 1000 large taxpayers. In January-March 2023, IT companies from the list paid AMD 17.3 billion in taxes or 5% of the total income supervised by the State Revenue Committee (SRC). Note: The taxes paid by each company is calculated as the difference between […]

In January-March 2023, RA banks registered AMD 70 billion net profit, which is about 2 times higher than last year. The highest profit was registered by Ardshinbank (AMD 16.7 billion). All banks made a profit, but 2 out of 18 commercial banks recorded a decrease in net profit. For the first time, Fast Bank was […]