Five Cigarette Companies Among Armenia's Top 20 Taxpayers

12:36, May 12, 2015

Two of the largest cigarette producers in Armenia are Grand Tobacco and International Masis Tabac.

In the first quarter of this year Grand Tobacco paid 2.528 billion (US$ 5.261 million) in taxes, up from 1.733 billion AMD in the same period last year.

International Masis paid 1.374 billion AMD (US$2.859 million) in the first quarter of this year, up from 1.287 billion AMD last year.

Masis Tobacco, another cigarette producer owned by Grand Holding, paid 120.8 million AMD in taxes, 320 million less than last year.

Cigarette production in Armenia is taking off. According to the National Statistical Service, 2,891,000 cigarettes were produced in Armenia in the first quarter of 2015 – up 28.4% over the same period last year.  Read more... (243 words)

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