Information Technology Sector in Armenia 2023

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 […]

02.04.24
3 min read
IT-taxes
Top IT taxpayers 2022-2023

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.

26.01.24
6 min read
net profit 2023
Net profits of RA banks | 2022 – 2023

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.

18.01.24
2 min read
it-professionals-armenia
The dynamics of the number of employed persons in the IT sector of Armenia

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 […]

10.01.24
3 min read
it tax
Taxes paid by the top IT taxpayers | Q1-Q3 2022/23

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.

10.11.23
5 min read
Top IT
Top IT taxpayers | 2023 Q1-Q3

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% […]

27.10.23
4 min read
banks net profit
Net profits of RA banks | Q1-Q3 – 2022/2023

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.

17.10.23
2 min read
top companies 2022
Top 10 largest companies | 2022

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.

23.08.23
4 min read
net profit banks
Net profits of RA banks | H1 – 2022/2023

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.

18.07.23
2 min read
it taxpayers
Top IT taxpayers | 2023 Q1

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 […]

28.04.23
3 min read
FDI performance of Armenia 2022

According to the 2021-2026 RA Government Programme, it is targeted to increase the FDI net inflow/GDP ratio to 6% by 2026. Due to the favorable external economic factors, it was possible to rapidly improve this indicator and to come significantly closer to the set target. A record-high FDI net inflow was registered in 2022 In […]

26.04.23
30 min read
net profits banks
Net profits of RA banks | Q1 – 2022/2023

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 […]

19.04.23
3 min read