Grocery store in Artik faces accusations of $670 thousand shadow turnover
YEREVAN, November 26. /ARKA/. The State Revenue Committee of Armenia reports the discovery of a shadow turnover case amounting to approximately 260 million drams (about $670,000) at a grocery store in the city of Artik, Shirak region.
It was discovered that the store sold food products for cash and, in some cases, failed to provide customers with cash register receipts, instead issuing only internal accounting documents to avoid paying taxes.
During the investigation, it was found that the shadow turnover at this store reached 260.24 million drams. In response to warnings and requests from tax authorities, the taxpayer submitted documents with recalculations of VAT, excise tax for October and December 2023, as well as for 2024, and income tax for 2024.
As a result, a debt to the state was formed, amounting to nearly 43.4 million drams in VAT and over 21.5 million drams in income tax. The company has fully repaid this debt. ($1 = 390.14 drams).
