Armenian mining company accused of large tax evasion

YEREVAN, June 1. /ARKA/. Armenian law-enforcement authorities have opened a criminal investigation against a mining company which is accused of a huge tax evasion amounting to 3.4 billion drams, the press service of the Armenian Police reported.

According to the Police, the company had acquired 5 hectares of agricultural land in Aragatsotn community to develop a mine. In 2017, August 29, the company was granted a special permit for the extraction of minerals.

On August 16, 2017, the company was allowed by the Ministry of Energy Infrastructures and Natural Resources to own and use 105 tons of mineral reserves for a period of 4 years from the third section of the Arteni obsidian mine, located on the same territory.

In 2017-2021 the company was involved in mining activities extracting as much as 11,600 cubic meters or more than 27.1 million kilograms of obsidian, however, in the company's books the amount was slashed to 286 cubic meters or 672,100 kilograms. Thus, the company managed not avoid taxes worth over 3.4 billion drams.

The Police said the criminal case was referred to the investigation department of the State Revenue Committee.-0-