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Debunking myths about cryptocurrencies: myth that cryptocurrencies are used for tax evasion
... evade taxes. That said, Binance shared its view of the situation with the editorial team, noting that tax compliance is key to the mass acceptance and legitimization of the entire cryptocurrency and Web3 ecosystem. Myth: cryptocurrency is used for tax evasion The decentralized nature of cryptocurrencies implies that these assets are not controlled by a centralized entity such as the government or a bank. And while decentralization has its pluses like increased security, it has created the misconception ...
05/19/2023Spayka company head denies tax evasion charges
... April 5. /ARKA/. The head of Spayka LLC David Ghazaryan, accused by Armenia’s State Revenue Committee (SRC) of large-scale tax evasion, told a press conference today that the accusations are ungrounded and the alleged amount of unpaid taxes - 7 billion ... ... continue operations. Ghazaryan also said the news about his detention yesterday made the Eurasian Development Bank to stop the release of a $100 million loan to Spayka. He said the amount was to arrive on Monday. According to him, the implementation of ...
04/05/2019AMD 1.6 billion Returned to Armenian State Budget Amid Tax Evasion Investigation
The Investigative Committee is currently investigating a case of significant tax evasion involving two natural gas station owners and several associates. YEREVAN, May 5. /ARKA/. The Investigative Committee is currently investigating a case of significant tax evasion involving two natural gas station owners and several associates....
05/05/2025Private university in Armenia accused of $235,000 tax evasion
Armenia's National Security Service (NSS) said today that the Armenian-Russian Mkhitar Gosh private university is suspected of a huge tax evasion. YEREVAN, June 20. /ARKA/. Armenia's National Security Service (NSS) said today that the Armenian-Russian Mkhitar Gosh private university is suspected of a huge tax evasion. According to a NSS statement, the authorized personnel of the university ...
06/20/2022Ex-president Kocharyan’s son charged with money laundering and tax evasion
Armenia’s National Security Service (NSS) has charged today Sedrak Kocharyan, the son of ex-president Robert Kocharyan, with the legalization of proceeds received from crime activity and tax evasion in especially large amounts. YEREVAN, February 19. /ARKA/. Armenia’s National Security Service (NSS) has charged today Sedrak Kocharyan, the son of ex-president Robert Kocharyan, with the legalization of proceeds received from crime activity ...
02/19/2019Armenian Nairi Insurance accused of huge tax evasion
Armenia’s State Revenue Committee said together with the Police it has revealed a gross tax evasion by Nairi Insurance company that has inflicted a damage totaling 200 million drams ($412,300). YEREVAN, January 21. /ARKA/. Armenia’s State Revenue Committee said together with the Police it has revealed a gross tax evasion by Nairi Insurance ...
01/21/2019Armenia’s largest forwarder accused of tax evasion
Armenia’s State Revenue Committee (SRC) said on Friday that the country’s biggest forwarding company Spayka is accused of tax evasion to the tune of more than 2 billion drams. YEREVAN, July 16. /ARKA/. Armenia’s State Revenue Committee (SRC) said on Friday that the country’s biggest forwarding company Spayka is accused of tax evasion to the tune of more than 2 billion ...
07/16/2018Vape importer suspected of tax evasion worth $370,000 in Armenia (video)
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). YEREVAN, June 23. /ARKA/. Armenian State Revenue Committee (SRC) has uncovered a tax evasion ...
06/23/2025Armenian State Revenue Committee reveals another large tax evasion case
Armenia's State Revenue Committee (SRC) said its officers have revealed another large-scale tax evasion case in the amount of 500 million drams. 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 ...
11/21/2023Owner of Artmoda and Artshoes stores accused of failing to pay taxes worth 100 million drams
The owner of a company in Yerevan that sold shoes through Artmoda and Artshoes stores, identified by his initials V.D., has pleaded guilty to 100 million dram tax evasion, the Armenian Investigative Committee said. YEREVAN, November 10. /ARKA/. The owner of a company in Yerevan that sold shoes through Artmoda and Artshoes stores, identified by his initials V.D., has pleaded guilty to 100 million dram tax evasion,...
11/10/2023Owner of Armenian toy store chain accused of tax evasion to the tune of almost $2 mln
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). 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 ...
11/09/2023Head of company selling fruits in Armenia detained on charges of tax evasion
Armenian law-enforcement authorities have launched an investigation into a large tax evasion case that involves a company founded by an Iranian citizen that imported tons of fruits and vegetables from Iran and sold them in Armenia without settlement documents or issued documents that did not correspond to reality. YEREVAN, October ...
10/30/2023More than 1 billion in unpaid taxes: Alex Textile director, employees and IT company owner charged with tax evasion
The director of Alex Textile LLC has been charged with tax evasion to the tune of more than 1.1 billion drams, Armenia’s Investigative Committee reported today. YEREVAN, April 3. /ARKA/. The director of Alex Textile LLC has been charged with tax evasion to the tune of more than 1.1 billion drams, Armenia’s ...
04/03/2023Armenian law-enforcers detain top managers of Nor Zovk company on tax evasion charges
Armenian law-enforcement authorities have detained the owner of Nor Zovk LLC, identified as A.A., the director of Nor Zovk chain of supermarkets, identified as R.A. and the chief accountant identified as S.S. on charges of tax evasion. YEREVAN, March 1. /ARKA/. Armenian law-enforcement authorities have detained the owner of Nor Zovk LLC, identified as A.A., the director of Nor Zovk chain of supermarkets, identified as R.A. and the chief accountant identified as S.S. on charges ...
03/01/2023Armenian SRC reveals 1.5 billion dram tax evasion cases
Armenia’s State Revenue Committee (SRC) said criminal investigation has been launched into what it described as ‘malicious tax evasion’ cases by several companies to the tune of 1.5 bln drams (about $3 million). YEREVAN, February 16. /ARKA/. Armenia’s State Revenue Committee (SRC) said criminal investigation has been launched into what it described as ‘malicious tax evasion’ ...
02/16/2022Armenia ratifies agreements with Malta and Singapore on elimination of double taxation
The Armenian parliament has ratified today the agreement between Armenia and Malta on the elimination of double taxation and prevention of tax evasion. YEREVAN, October 28. /ARKA/. The Armenian parliament has ratified today the agreement between Armenia and Malta on the elimination of double taxation and prevention of tax evasion. The ratification was backed by 59 lawmakers, 2 opposed and ...
10/28/2021Armenian mining company accused of large tax evasion
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. 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 ...
06/01/2021State Revenue Committee detects tax evasion in especially large amount
Armenia's State Revenue Committee (SRC) has revealed a tax evasion case with the amount of unpaid tax being 'especially large.' YEREVAN, February 2. /ARKA/. Armenia's State Revenue Committee (SRC) has revealed a tax evasion case with the amount of unpaid tax being 'especially large.' It said three citizens ...
02/02/2021Armenian businessman Samvel Mayrapetyan is accused of $12 million tax evasion
Armenia's Special Investigative Service )SIS) said today investigators have expanded charges against businessman Samvel Mayrapetyan, who is now charged with tax evasion complicity in the amount of almost 5.7 billion drams (about $11.83 million). YEREVAN, June 25. /ARKA/. Armenia's Special Investigative Service )SIS) said today investigators have expanded charges against businessman Samvel Mayrapetyan, who ...
06/25/2020Armenian State Revenue Committee urges citizens to stay away from criminal tax evasion schemes
The Armenian State Revenue Committee's investigation and intelligence division has disclosed a number of criminal tax evasion schemes. According to the press service of the department, it has become known from periodically received operational data that various individuals, as well as real or actual beneficiaries of some organizations, in order to evade taxes or create ...
04/30/2020State Revenue Committee recovers 335 million drams of avoided taxes
... Khach 9, included lower costs of apartments in the contracts with buyers than their real costs, submitting as a result incorrect turnover documents to the tax authorities. The SRC said a criminal case has been initiated under part 2 of Article 205 (evasion of taxes, duties or other mandatory payments on a large scale) of the Armenian Criminal Code. It said also as a result of large-scale investigative and legal actions, the real costs of apartments sold by companies in 2015-2018 were clarified....
12/18/2018State revenue committee accuses two natural gas filling stations of tax evasion in the amount of 381 million drams
Armenia’s State Revenue Committee has launched today criminal cases against two natural (compressed) gas filling stations -Arpi Gaz and Gladzor MGG- accusing them of tax evasion in the amount of 381 million drams in 2015-2018. YEREVAN, November 15. /ARKA/. Armenia’s State Revenue Committee has launched today criminal cases against two natural (compressed) gas filling stations -Arpi Gaz and Gladzor MGG- accusing ...
11/15/2018Armenian National Security Service discloses gross tax evasion by Alex Holding
Armenia’s National Security Service detected a tax evasion scheme that long years had been used by the owner of Alex Holding. YEREVAN, May 31. /ARKA/. Armenia’s National Security Service detected a tax evasion scheme that long years had been used by the owner of Alex Holding. The press office ...
05/31/2018Armenian law toughens punishment for tax dodgers
... Armenian parliament in the second and final reading, provide for tougher punishment for tax dodgers. According to deputy justice minister Arthur Hovhannisyan, some provisions of the current law, in particular, article 205, providing for punishment for the evasion of taxes, duties or other mandatory payments, is a cause of discrepancies, He said under the current legislation, evasion of taxes, duties or other mandatory payments by entering false data in accounting books or other financial documents, committed ...
02/28/2017Armenian authorities to make some legislative relieve for taxpayers
... Arpine Hovhannisyan, Armenian justice minister, said Thursday at a regular cabinet session. At this session, the cabinet ministers upheld appropriate amendments to the criminal code. The minister said the amendments apply to the provisions related to evasion of taxes, duties and other mandatory payments. The present version of the law contains such languages as ‘malicious tax evasion’ and ‘provision of data which is known to be distorted’, but there are no criteria identifying malicious intent ...
12/23/2016Nor Zovk company restores 2 billion drams of avoided taxes
The owner of Nor Zovk LLC, identified by investigators as A.A., the director of Nor Zovk chain of supermarkets, identified as R.A. and the chief accountant identified as S.S., arrested earlier this year on charges of tax evasion, were released from custody after admitting to deliberately avoid payment of taxes on a particularly large scale and paying two billion drams of avoided taxes. YEREVAN, April 7, /ARKA/. The owner of Nor Zovk LLC, identified by investigators as A.A., the ...
04/07/2023Spayka LLC personnel unhappy about detention of their boss
... Ghazaryan from prosecution. Armenian company Spayka, is accused by Armenia’s State Revenue Committee (SRC) of large-scale tax evasion to the tune of 7 billion drams (the equivalent of more than $14). Ghazaryan, speaking yesterday at a news conference, ... ... payments, which must be returned to the company in accordance with the law. In response, the State Revenue Committee issued a press release presenting a list of all claims against Spayka. Media sources also reported that the company ceased all its purchases ...
04/08/2019Armenia ratifies convention on the elimination of double taxation with Japan
At a meeting on Thursday, the Armenian government ratified the convention with Japan on the elimination of double taxation with respect to income and the prevention of fiscal evasion. YEREVAN, May 8. /ARKA/. At a meeting on Thursday, the Armenian government ratified the convention with Japan on the elimination of double taxation with respect to income and the prevention of fiscal evasion. The convention was signed on December ...
05/08/2025Owner and director of Ar.Tobacco company arrested in Armenia for tax evasion
A court in Yerevan allowed Armenian law-enforcement authorities to arrest the owner and the director of Ar.Tobacco company on charges of tax evasion and attempted export of undeclared large batches of cigarettes. YEREVAN, June 26. /ARKA/. A court in Yerevan allowed Armenian law-enforcement authorities to arrest the owner and the director of Ar.Tobacco company on charges of tax evasion ...
06/26/2023Company director arrested for selling sugar and buckwheat without payment documents
An Armenian court allowed law-enforcement authorities to arrest the director of At.Land LLC on charges of tax evasion. YEREVAN, June 21. /ARKA/. An Armenian court allowed law-enforcement authorities to arrest the director of At.Land LLC on charges of tax evasion. The company is accused of selling 850 tons of sugar and 61 tons of buckwheat imported from ...
06/21/2023Armenian company accused of evading 233.5 million drams in taxes
The head of a limited liability company that has a rent contract with Vernisage open-air market in Yerevan that sells Armenian folk art, unique jewelry and exclusive handmade masterpieces is accused of tax evasion to the tune of 233.5 million drams (about $568,000) in collusion with other individuals, Armenia's National Security Service (NSS) said today. YEREVAN, July 25. /ARKA/. The head of a limited liability company that has a rent contract with Vernisage ...
07/25/2022Armenia imposes temporary restriction on export of copper and molybdenum concentrates
... order to ensure effective taxation of excess profits from the use of the country's subsoil. Armenian Prime Minister Nikol Pashinyan added that Mher Polozkov, now the former CEO of the Zangezur copper and molybdenum combine, charged earlier with huge tax evasion, paid 15 billion drams (about $30 million) in evaded taxes following a court ruling. The tax evasion was tracked down by the State Revenue Committee, which said earlier that the combine concluded in 2016-2017 streaming agreements with UAE-registered ...
03/03/2022Charges brought over tax evasion in North-South road construction - skim money amounts to AMD 2.7 billion
... company's shares on August 8, 2016, putting the idea of Sinohydro Corporation into practice along with Suren Avagyan and Gurgen Sargsyan, was driving financial means from the company's accounts without providing any service, helping it in gross tax evasion. To carry out this fraudulent scheme, two contracts were signed between the mentioned companies for provision of consulting services. The reports contains a detailed description of the fraud committed by the offenders. The skim money amounts ...
09/19/2019Spayka plans to export more than 100,000 tons of agricultural products this year
Armenian company Spayka, accused by Armenia’s State Revenue Committee (SRC) of large-scale tax evasion to the tune of 7 billion drams (the equivalent of more than $14), said in a statement Sunday it was going to export this year more than 100 thousand metric tons of agricultural products, as much as last year, to be bought from local farmers and ...
04/08/2019Criminal prosecution against Spayka head David Ghazaryan stopped
The criminal prosecution against the director of Spayka company David Ghazaryan was stopped, but the preliminary investigation into tax evasion case continues, Armenia’s State Revenue Committee said today. YEREVAN, April 5. /ARKA/. The criminal prosecution against the director of Spayka company David Ghazaryan was stopped, but the preliminary investigation into tax evasion case ...
04/05/2019Ustyugova: risks to economic resilience and growth could stem from slower implementation of structural reform agenda in Armenia
... direction of reducing income tax? Ustrugova: The authorities intend to move towards a flat taxation system with a PIT rate at 23 percent. A lower flat PIT rate, in the authorities’ view, will have positive effects on economic growth and reduce the tax evasion and shadow economy. The Fund supports the objective of fighting tax evasion and reducing the shadow economy. But it also believes that these problems are too deep-seated to be solved by tax cuts alone. To be effective the reform should be aided ...
12/13/2018Gyumri Garedjur brewery suspected of evading 360 million drams in taxes
Armenia’s State Revenue Committee (SRC) has accused today Gyumri Garedjur brewery in the second-largest town of Gyumri of a tax evasion in the amount of 360 million drams. YEREVAN, June 22. /ARKA/. Armenia’s State Revenue Committee (SRC) has accused today Gyumri Garedjur brewery in the second-largest town of Gyumri of a tax evasion in the amount of 360 million drams. In ...
06/22/2018Findings of investigation into alleged tax evasion by Tsarukyan will be unveiled in early June
Armenian finance minister Gagik Khachatryan said today the findings of a massive investigation into alleged billions of drams worth tax evasion by a wealthy businessman Gagik Tsarukyan, a former head of Prosperous Armenia party, will be unveiled in early June. YEREVAN, May 25. / ARKA /. Armenian finance minister Gagik Khachatryan said today the findings of a massive investigation ...
05/25/2015Head of think-tank says the government set to cut tax evasion by 15 percent this year
Tatul Manaseryan, the head of a Yerevan-based think-tank called ‘Alternative’ says the Armenian government is determined to cut tax evasion by around 10-15 percent this year. YEREVAN, August 25 / ARKA /. Tatul Manaseryan, the head of a Yerevan-based think-tank called ‘Alternative’ says the Armenian government is determined to cut tax evasion by around 10-15 percent ...
08/25/2014Relatives of officials must not use family ties for tax evasion – Armenian premier
Relatives of Armenia’s ministers and high-ranking officials may run a business, but have no right to use their family ties for tax evasion, Armenia’s premier Hovik Abrahamyan told reporters Saturday, before the 15th congress of the Republican Party of Armenia. YEREVAN, May 26. /ARKA/. Relatives of Armenia’s ministers and high-ranking officials may run a business, but ...
05/26/2014President: tax evasion by Armenian entrepreneurs deserves strong condemnation
Tax evasion by Armenian entrepreneurs is absolutely unacceptable phenomenon, Armenian President Serzh Sargsyan said Thursday at the fourth congress of the Commerce and Industry Chamber of Armenia. YEREVAN, May 26. /ARKA/. Tax evasion by Armenian entrepreneurs ...
05/26/2011Manvel Grigoryan's defense offers 1.4 billion dram bail for his release from custody
... offer the bulk of it s a bail in return for his release from custody. According to the lawyer, the family wants Grigoryan to be released from custody because of his deteriorating health. He also referred to the conclusion of the European Court of Human Rights ... ... Grigoryan will be announced on December 24. Grigoryan stands accused of illegal arms possession, embezzlement, extortion and tax evasion. Some of these charges have also been brought against his wife, Nazik Amiryan. In 2018 summer Armenian police conducted ...
12/18/2019Armenia joins OECD convention on counteracting tax evasion
Armenia has joined the multilateral convention of the Organization for Economic Cooperation and Development (OECD) on counteracting the tax base erosion and profit shifting (BEPS), the Armenian ministry of finance said today in a press release. YEREVAN, June 8. /ARKA/. Armenia has joined the multilateral convention of the Organization for Economic Cooperation and Development (OECD) on counteracting the tax base erosion and profit shifting (BEPS), the Armenian ministry of finance ...
06/08/2017Pro-government MP proposes to raise the maximum age of conscription
...," Sargsyan said. The changes are aimed at increasing the number of military personnel, making military service more attractive, preventing emigration, reducing the number of renunciations of Armenian citizenship, introducing mechanisms to prevent evasion of military service, and criminalizing cases of evasion of military service for alleged medical reasons. "Analysis of data over the past 20 years shows that only 30-40% of those subject to conscription go to serve. "Due to the long term ...
05/12/2025Armenia and Japan sign convention on avoidance of double taxation
... Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Aoki Yutaka, signed the Convention on the Avoidance of Double Taxation of Income between the Republic of Armenia and Japan, as well as the Prevention of Fiscal Evasion and Avoidance, on Thursday, the YEREVAN, December 27. /ARKA/. Armenian Finance Minister Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Aoki Yutaka, signed the Convention on the Avoidance of Double ...
12/27/2024Minister: Armenia does not want to help Russian companies avoid western sanctions
... sanctions. . YEREVAN, April 21. /ARKA/. Armenian Economy Minister Vahan Kerobyan denied reports that Armenian companies help Russian partners avoid western sanctions. The U.S. government launched earlier an interagency initiative to crack down on evasion and violations of U.S. sanctions and export controls targeting Russia and Belarus. It also issued a Tri-Seal Compliance Note highlighting evasion tactics to assist the private sector in identifying warning signs and implementing appropriate compliance ...
04/21/2023Nor Zovk chain of supermarkets in Yerevan accused of tax evasion
Armenia's State Revenue Committee (SRC) said today that several Nor Zovk supermarkets in Yerevan were closed in the morning after its and National Security Service 's' officers found out that the company running the supermarkets used a sophisticated scheme to avoid taxes in large amounts. YEREVAN, February 20. /ARKA/. Armenia's State Revenue Committee (SRC) said today that several Nor Zovk supermarkets in Yerevan were closed in the morning after its and National Security Service 's' officers...
02/20/2023Fresh criminal charges brought against ex-president’s chief bodyguard and his wife
... relatives, sell his apartment and give the money the Ghazaryans. Earlier, in 2020, Ghazaryan was already a defendant in a number of criminal cases, including on charges of abuse of power, which resulted in grave consequences through negligence, tax evasion and illicit enrichment. Ghazaryan was first arrested in 2018, less than two months after the velvet revolution, on charges of illegal enrichment, false asset disclosure and tax evasion. A court in Yerevan freed Ghazaryan on bail a few months later,...
11/21/2022Criminal scheme of tax evasion by IT companies uncovered in Armenia
Acting on a tip Armenia's State Revenue Committee (SRC) and the National Security Service (NSS) uncovered a new case of economic crime. YEREVAN, November 18. /ARKA/. Acting on a tip Armenia's State Revenue Committee (SRC) and the National Security Service (NSS) uncovered a new case of economic crime. According to NSS, in order to avoid paying true tax liabilities, three IT and computer technology companies in Yerevan registered officially only part of their employees who were paid only part of...
11/18/2022Illegal extraction of obsidian in Armenia causes 156 million dram damage
Armenia's law-enforcement authorities have opened a criminal investigation into a huge tax evasion case, National Security Service said, adding that the amount of unpaid taxes is over 156 million drams. YEREVAN, November 26. /ARKA/. Armenia's law-enforcement authorities have opened a criminal investigation into a huge tax evasion case, National ...
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