Armenian law-enforcers detain top managers of Nor Zovk company on tax evasion charges

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01.03.2023, 12:26

Armenian law-enforcement authorities have detained the owner of Nor Zovk LLC, identified as A.A., the director of Nor Zovk chain of supermarkets, identified as R.A. and the chief accountant identified as S.S. on charges of tax evasion.

Armenian law-enforcers detain top managers of Nor Zovk company on tax evasion charges

YEREVAN, March 1. /ARKA/. Armenian law-enforcement authorities have detained the owner of Nor Zovk LLC, identified as A.A., the director of Nor Zovk chain of supermarkets, identified as R.A. and the chief accountant identified as S.S. on charges of tax evasion. The owner of the company is charged also with software fraud.

According to the Investigative Committee, A.A, who owns 100% in Nor Zovk LLC, by prior agreement with the director and the chief accountant distorted tax related data to have avoided paying more than 4.1 billion drams in various taxes in a time span from 2019 to 2023.

'In order to implement their criminal intentions, to conceal the real income generated by all the supermarkets the owner of the company together with the director and chief accountant attracted a software company in return for a payment that provided the relevant technology tools.

In particular, a sales software was installed in all supermarkets, which was attached to a hidden electronic servers system. As a result, the real sales turnover was stored in the electronic server system, while customers were given receipts indicating the real amount of the transaction, generated by the software.

According to the Investigative Committee, the company avoided paying over 2.2 billion drams of VAT and over 1.9 billion drams of profit tax. ($1 - 389.34 drams) -0-

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