A Shadow Turnover Of 4 Billion Drams Was Revealed In The Construction Materials Market In Armenia

YEREVAN, April 29. /ARKA/. The State Revenue Committee of Armenia has revealed a case of shadow turnover in the construction materials market worth about 4 billion drams, the press service of the department reports.

According to operational data, a company engaged in the retail and wholesale of construction materials often did not provide the relevant tax accounting documents, which allowed for a significant understatement of the declared turnover. In order to clarify the data and identify the real scale of sales at the company's retail outlets located in various administrative districts of Yerevan, simultaneous events were held, and important data was obtained, which formed the basis for a preliminary financial analysis.

The State Revenue Committee reported that the company's undeclared turnover amounted to about 4 billion drams. As a result, the state suffered especially large-scale damage of approximately 1.1 billion drams.

The data was transferred to the Investigative Committee, where a criminal case was initiated, the company was searched, documents, electronic media and other materials important for the preliminary investigation were confiscated.

A suspect or accused of an alleged crime is considered innocent until proven guilty by a court decision that has entered into legal force, in the manner prescribed by the Criminal Procedure Code of Armenia. ($1 - 389.46 AMD)