Vape importer suspected of tax evasion worth $370,000 in Armenia (video)

YEREVAN, June 23. /ARKA/. Armenian State Revenue Committee (SRC) has uncovered a tax evasion case by a company engaged in the import and sale of electronic cigarettes in Armenia, amounting to more than 142 million drams (almost $370,000).

Operational data was received indicating that this company was selling imported vapes at retail prices below the excise tax for this product. During the next delivery of products from an EEU member country, SRC employees conducted an inspection at the cargo terminal at Zvartnots Airport.

It turned out that the volumes indicated on the self-adhesive labels were 10 times less than the actual volumes in the original factory packaging. In general, in the tax and customs documentation for electronic cigarettes imported from the EEU countries and China, the company significantly underestimated the volumes of products and evaded the payment of excise tax and VAT. These cigarettes were marked with excise stamps, the electronic registration of which also understated the volumes of liquids.

As a result, the government suffered damages in the amount of more than 142 million drams. A notice of non-payment of taxes in a particularly large amount was sent to the Investigative Committee, which initiated criminal proceedings.

Searches were conducted at about 30 retail outlets of the company. Important documents, electronic media, and electronic cigarettes were seized.-0-