Armenia’s State Revenue Committee uncovers hidden sales turnover of 300 million drams

YEREVAN, October 30. /ARKA/. The State Revenue Committee of Armenia recently uncovered a hidden turnover of approximately 300 million drams, according to a report from the department's press service.

Operational data indicated that an individual entrepreneur involved in the trade of food products and household goods in the village of Karbi, Aragatsotn region, was accepting cash payments for goods sold. Instead of providing a cash register receipt, the entrepreneur offered only an internal payment document, thereby avoiding substantial tax payments. This information was confirmed following inspections.

Factual data revealed that in 2024, the entrepreneur concealed a sales turnover of approximately 300 million drams ($775,100). Corresponding tax calculations showed that the individual did not pay taxes amounting to 50 million drams ($129,200).

The businessman subsequently submitted revised calculations for VAT and excise tax to the tax authority, fully repaying additional tax liabilities amounting to 50,301,618 drams. (Exchange rate: $1 = 387.06 drams). -0-