Armenian State Revenue Committee reveals another large tax evasion case

YEREVAN, November 21. /ARKA/. Armenia's State Revenue Committee (SRC) said its officers have revealed another large-scale tax evasion case in the amount of 500 million drams.

It said acting on a tip its Department of Investigation and Operative Search detained two citizens, one of whom was engaged in construction and sale of apartment buildings, however, all activities were registered to another citizen.

According to SRC, as a result the real owner of the business entered wrong information in the annual income tax and social payments declarations and this way he avoided paying taxes in especially large amounts.

The SRC was also informed that the above-mentioned persons, violating legal requirements, received prepayments from buyers in cash and in foreign currency.

In the course of the search operations, it was established that the above-mentioned persons were to receive an advance payment of $200,000 in cash and foreign currency from a prospective buyer of an apartment.  

The citizens, identified as A.G. and N.A. were detained after receiving the prepayment and were subjected to a personal search. The case was referred to the Investigative Committee.

The SRC said a few hours after the disclosure of this crime, a declaration with tax liabilities of about 500 million drams was submitted to the tax authority on behalf of citizen N.A. and about 250 million drams of unpaid taxes were restored. -0-