Spayka LLC threatens with its procurement failure
10.04.2019,
11:34
Spayka LLC, in response to the detention of its head Davit Ghazaryan on charge of tax evasion, has issued a statement threatening to stop its procurements from farmers. Last week Armenia’s State Revenue Committee (SRC) accused Spayka of evading over 7 billion drams ($14.4 million) in import taxes and asked a court in Yerevan to allow Ghazaryan’s pre-trial arrest.
YEREVAN, April 10. /ARKA/. Spayka LLC, in response to the detention of its head Davit Ghazaryan on charge of tax evasion, has issued a statement threatening to stop its procurements from farmers. Last week Armenia’s State Revenue Committee (SRC) accused Spayka of evading over 7 billion drams ($14.4 million) in import taxes and asked a court in Yerevan to allow Ghazaryan’s pre-trial arrest.
Ghazaryan denied the accusations when speaking at a news conference before the court hearings last Friday. He argued that the 5.5 billion drams of the alleged amount of evaded taxes are VAT that must be returned to the company in accordance with the legislation.
On Monday, a court in Yerevan allowed his arrest for two months. “I don’t think that any company should speak to a citizen of Armenia, a village resident or the government in the language of blackmail. This is a very bad modus operandi. This means that any company can say if you want us to pay taxes, then do this or that. It is wrong,” said Pashinyan.
On March 26, Spayka commissioned a $15 million worth cheese factory. The opening ceremony was attended by Prime Minister Nikol Pashinyan. Spayka was founded in 2001. It is Armenia’s leading exporter of fruits, vegetables and some prepared foodstuffs. The company has more than 1,200 people on its payrolls.
Spayka LLC says in its statement released today that since the day of its establishment it has operated “for creation of economic values in Armenia. The company says it has always distanced itself from any political process. “State security is has always been and remains the key criterion to us,” the statement says.
Spayka declares in the statement that it supports farmers and the government-initiated economic revolution, and at the same time, threatens with stopping purchasing fruits and vegetables from farmers in 80 and more communities.
The company says that it needs around AMD 5 billion every month, which is taken from its loans.
“These are short-term financial resources which must be returned to the bank unconditionally or with a two-month delay,” it says. “In accordance with the loan contract, the bank may refrain from lending these resources again, if it see that the company’s normal activity is disturbed or that threat is posed to its financial stability. And the bank needs no any justification for that.”
Spayka LLC also says that after the detention of its head, international banks has started withdrawing the financial resources lent to the company. Besides, its accounts may be frozen and property, including trucks, arrested. “In such circumstances, the company will be not able to use its turnover resources and organize procurements in communities beforehand,” the company says in its statement adding that this will strike hard at farmers.
It says it purchases fruits and vegetables from farmers at prices that are 10% higher than market prices.
The company also says that despite the detention of its head, it is still working intensively to organize procurements at the communities, since it will not benefit from any failure of procurement.
However, it says, this may happen if the company’s assets are frozen of arrested because of “illegal detention” of its director and if the company’s “financial state worsens”. -0---
Ghazaryan denied the accusations when speaking at a news conference before the court hearings last Friday. He argued that the 5.5 billion drams of the alleged amount of evaded taxes are VAT that must be returned to the company in accordance with the legislation.
On Monday, a court in Yerevan allowed his arrest for two months. “I don’t think that any company should speak to a citizen of Armenia, a village resident or the government in the language of blackmail. This is a very bad modus operandi. This means that any company can say if you want us to pay taxes, then do this or that. It is wrong,” said Pashinyan.
On March 26, Spayka commissioned a $15 million worth cheese factory. The opening ceremony was attended by Prime Minister Nikol Pashinyan. Spayka was founded in 2001. It is Armenia’s leading exporter of fruits, vegetables and some prepared foodstuffs. The company has more than 1,200 people on its payrolls.
Spayka LLC says in its statement released today that since the day of its establishment it has operated “for creation of economic values in Armenia. The company says it has always distanced itself from any political process. “State security is has always been and remains the key criterion to us,” the statement says.
Spayka declares in the statement that it supports farmers and the government-initiated economic revolution, and at the same time, threatens with stopping purchasing fruits and vegetables from farmers in 80 and more communities.
The company says that it needs around AMD 5 billion every month, which is taken from its loans.
“These are short-term financial resources which must be returned to the bank unconditionally or with a two-month delay,” it says. “In accordance with the loan contract, the bank may refrain from lending these resources again, if it see that the company’s normal activity is disturbed or that threat is posed to its financial stability. And the bank needs no any justification for that.”
Spayka LLC also says that after the detention of its head, international banks has started withdrawing the financial resources lent to the company. Besides, its accounts may be frozen and property, including trucks, arrested. “In such circumstances, the company will be not able to use its turnover resources and organize procurements in communities beforehand,” the company says in its statement adding that this will strike hard at farmers.
It says it purchases fruits and vegetables from farmers at prices that are 10% higher than market prices.
The company also says that despite the detention of its head, it is still working intensively to organize procurements at the communities, since it will not benefit from any failure of procurement.
However, it says, this may happen if the company’s assets are frozen of arrested because of “illegal detention” of its director and if the company’s “financial state worsens”. -0---
