Galaxy Group of Companies paid over AMD 11.5 billion in taxes in 2020

April 19, 2021 – 16:13 AMT

PanARMENIAN.Net – As a responsible business, Galaxy Group of Companies has paid more than AMD 11.5 billion (USD 22 million) in taxes to the RA state budget in 2020.

Galaxy Group of Companies, which is one of the biggest taxpayers and employers in , representing 15 business unites, has published its 2021 socio-economic yearly impact report, summarizing the Group’s activities in 2020. The report includes information about the tax and loan portfolio, number of employees, salary fund, statistics about the impact on Armenia’s GDP and other such important data.

“2020 has undoubtedly been the most difficult year for all of us. It was our joint decision that regardless of the challenges—be it the war, the economic crisis, corporate sabotage or unlawful persecution—we should maintain business continuity, because we feel huge responsibility towards thousands of people, including our company employees and their families. As a business group with local and international capital, Galaxy Group of Companies will continue creating new, additional values, contributing to the recovery of Armenia’s economy,” stated Aram Khachatryan, co-founder and CEO of Galaxy Group of Companies.

In 2020, the average monthly salary in Galaxy Group of Companies was AMD 364,716 and more than AMD 2 billion in income taxes was paid to the RA state budget. According to the 2020 data, the loan portfolio of the Group amounted to about AMD 60 billion (USD 115 million). Purchases from the local market amounted to about USD 36 million.

Galaxy Group of Companies penetrates every third household in Armenia through its goods and services, and the general demographic of its community are the RA citizens from 18-55 ages. The complete socio-economic impact report is available.

It is worth to mention that Galaxy Group of Companies, in addition to the Founders’ efforts towards contributing defense and security systems, made significant steps in the field of social responsibility in 2020, including civilian shelter and assistance programs, international press visits to Armenia and , and support for socially vulnerable groups among others. In 2020, the founders of Galaxy Group of Companies were under persecution, with illegal attempts aimed at alienating the business in the telecommunications field, however all of them proved to be futile.

Galaxy Group of Companies was established in Armenia in 1999 and throughout its 20+ years of operations has created and developed 15 business units in Armenia, Georgia and Belarus. The success factors of all companies have been industry innovation, effective team involvement and the responsible business culture developed on the basis of continuous learning. The founders of Galaxy Group of Companies are Aram Khachatryan, Gurgen Khachatryan and Artyom Khachatryan. At present, the number of employees in Galaxy Group of Companies exceeds two thousand, and various social responsibility programs in the fields of education, innovation and social improvement are a key component of the company’s operational work.

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