Yerevan-based Mobile Centre Art LLC was the largest taxpayer in Armenia in the first quarter of 2024, surpassing Gazprom Armenia.

The company operates, what it claims, is the largest mobile phone sales chain in Armenia. The company also imports and exports mobile phones and other appliances such as TVs and tablets.

Armenia’s State Revenue Committee reports that in the quarter of 2024 Mobile Centre paid 19.9 billion drams (US$51.3 M) in taxes to the state, 3.7 times more than the same period in 2023. Most were VAT.

The sharp increase in Mobile Centre taxes was most likely derived from the re-export of equipment from Armenia to Russia.

Following Russia’s invasion of Ukraine in February 2022, Armenia has served as a transit country for trade between the West and Russia. Several European countries and the USA banned the export of goods from their territories to Russia.

Manufactured goods have reached Russia not only through Armenia, but also Kazakhstan, Georgia, Turkey and Uzbekistan.

Gazprom Armenia came in second in the taxpayer rankings in the first quarter of 2024, paying 18.2 billion drams compared to 20.9 billion in the same period in 2023.

Zangezur Copper-Molybdenum Combine was third with 15.6 billion drams.

Grand Tobacco, a subsidiary of Grand Holding, came in fourth with 13.2 billion drams in tax. Pretty Way LLC, which operates the Vesta electrical/household appliance stores in Yerevan and Gyumri, came in fifth with 8.8 billion drams in paid tax.