Government allocates 84.4 million drams to pay taxes for defunct ANIF

The Armenian government has approved an allocation of 84.4 million drams from the state budget to cover the 2024 profit tax of the defunct Armenian National Interests Fund (ANIF). The payment deadline was April 20, 2025.

According to official justification, ANIF was scheduled for dissolution in 2024, but delays have stalled the process. The tax amount was not included in the 1.7 billion drams grant previously provided to the company, as it had not been foreseen as an expense.

The grant will be used exclusively to pay the tax and will be allocated without a tender.

ANIF was established in 2019 to attract large-scale foreign investments and develop infrastructure projects. From its inception until October 2023, the board was chaired by Tigran Avinyan. Between 2022 and 2023, state oversight bodies uncovered mismanagement and embezzlement within ANIF. A criminal investigation is ongoing, but no charges have been filed yet. Prosecutor General Anna Vardapetyan recently confirmed the case remains in active investigation and prosecutions are not ruled out.