Owner of Armenian toy store chain accused of tax evasion to the tune of almost $2 mln

YEREVAN, November 9. /ARKA/. Armenia's Investigative Committee said today it has completed investigation of a criminal case that involved tax evasion to the tune of 785 million drams (almost $2 million).

According to the Investigative Committee, the director and full owner of "POPO" company that runs a chain of stores selling games and toys and two his subordinates, one of whom is his brother, violated a number of laws when submitting tax reports.

Particularly, they sold goods without providing settlement documents, concealed real turnover and evaded taxes. This lasted from August 2018 to December 2020.

Based on sufficient evidence obtained during the investigation, criminal cases were initiated against all three and charges were filed.

The three pleaded guilty, provided information about previously hidden tax liabilities in the amount of 785 million drams, of which about 300 million drams were paid to the state budget on November 8, 2023, and they undertook also to pay the rest of the tax liabilities in a short period of time. --0--