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Less Tax for Armenian Poultry Companies for 2010

by 5m Editor
8 February 2011, at 9:45am

ARMENIA - Five of the company's largest poultry companies are to have their tax burden reduced for 2010.

According to the list of Armenia`s major taxpayers released by the RA State Revenue Committee, five largest Armenian poultry farms paid less taxes last year as compared with the previous year, according to Armenia News.

Last year, poultry farms sustained serious losses because of a fall in egg prices. On the other hand, last December they earned excess profits, as egg prices set a historical record, 100 drams (AMD) per egg.

What was the impact the price fluctuations had on the taxes paid by poultry farms? Among the poultry farms, the Araks farm proved to be the largest taxpayer. It paid a total of AMD461 million (about US$1.2 million) and ranked 161st in the list. In 2009, it paid a total of AMD533 million (US$1.4 million) and ranked 199th.

The Lusakert poultry farm, which was the second largest taxpayer among poultry farms, paid a total of AMD160 million (about US$430,000) and ranked 480th in the taxpayers` list. In 2009, the company paid a total of AMD288 million (about US$770,000) and ranked 226th.

Armenian News reminds readers that last year rumors were circulating about the Araks company`s taking over the Lusakert farm. However, the rumours proved ungrounded.