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Vape 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 ...
06/23/2025About 10% of Armenian citizens have submitted income declarations
... civil law contracts. From 2025, declarations will have to be submitted by all those citizen-residents of the country who are not included in the two specified groups. Citizens are required to submit their declarations by November 1, 2025. In case of evasion and lateness, fines are provided - 50 thousand drams for entrepreneurs, 5 thousand drams for other citizens. About social loans in Armenia The system of "social loans" assumes compensation of citizens' expenses in two major areas - in ...
06/16/2025Japanese Parliament ratifies agreement on avoidance of double taxation with Armenia
... confirmed his readiness to support the development of economic cooperation with Armenia. On May 8 of this year, the Armenian government ratified the convention with Japan on the avoidance of double taxation with respect to income and the prevention of tax evasion. The convention was signed on December 26, 2024 in Yerevan. In accordance with the principle of reciprocity, the agreement establishes the terms and rates of taxation of the main types of income - dividends, interest and royalties - in the country ...
06/03/2025No Criminal Charges for Income Declaration Violators
... civil law contracts. Starting from 2025, declarations will have to be submitted by all those citizen-residents of the country who are not included in these two groups. Citizens are required to submit their declarations by November 1, 2025. In case of evasion and delay, fines are provided - 50 thousand drams for entrepreneurs, 5 thousand drams for other citizens. About social loans in Armenia The system of "social loans" assumes compensation for citizens' expenses in two major areas - in ...
05/22/2025Pro-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 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 ...
05/08/2025AMD 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....
05/05/2025In Armenia, untying of "Gordian knot" of robbery began in 2019, $4.2 billion returned to the budget - Prime Minister
... "This work has been carried out consistently and on principle. To recover what was stolen, it's crucial to understand the location and mechanisms of the theft. First and foremost, these include the shadow economy, artificial monopolies, and tax evasion," Pashinyan said on Tuesday in parliament, presenting a report on the implementation and outcomes of the government's 2021–2026 program for the year 2024. According to him, illegally acquired property worth more than $1.7 billion is currently ...
04/15/2025Pashinyan announces steps to return 70 billion drams to citizens
... in 2025, all citizen-residents of the country who are not included in the first two groups will be required to submit declarations. Citizens are required to submit their declarations before May 1 of each year following the reporting year. In case of evasion or delay, fines are imposed—50,000 drams for entrepreneurs and 5,000 drams for other citizens. ($1 = 398.27 drams)
01/30/2025Armenian government presents rationale for income declaration to introduce social credits
... 2025, declarations will have to be submitted by all citizen-residents of the country who are not included in the first two groups. Citizens are required to submit their declarations before May 1 of each year following the reporting year. In case of evasion or delay, fines are imposed—50,000 drams for entrepreneurs and 5,000 drams for other citizens. ($1 = 398.27 drams)
01/30/2025Transactions up to 300,000 drams not subject to declaration – Head of Armenia’s SRC
... contracts. From 2025, all other resident citizens, who are not part of the above two groups, will also be required to submit their declarations. Citizens must submit their declarations by May 1 each year, following the reporting year. Penalties for evasion or late submission include a fine of 50,000 drams for entrepreneurs and 5,000 drams for other citizens. ($1 = 398.84 drams)
01/22/2025Pashinyan was unable to immediately fill out his income declaration
... declarations will have to be submitted by all those citizen-residents of the country who are not included in the two specified groups. Citizens are required to submit their declarations before May 1 of each year following the reporting year. In case of evasion and delay, fines are provided - 50 thousand drams for entrepreneurs, 5 thousand drams for other citizens. ($1 - 398.84 drams) -0-
01/21/2025Armenia 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 ...
12/27/2024Armenian Investigative Committee recovers material damage worth 34.4 billion drams
... Investigative Committee added that within the framework of the completed and incomplete criminal cases it was possible to recover almost 34.45 billion drams, of which 33.7 billion drams were transferred to the state budget (mainly in cases related to tax evasion). It is noted that for the whole year 2023, the total amount of damage recovered in favour of the state, communities, legal entities and individuals was more than 34.75 billion drams. ($1 - 387.37 drams).
11/11/2024State Revenue Committee of Armenia reveals a shadow turnover of 17 billion drams
... State Revenue Committee (SRC) of Armenia has revealed a shadow turnover of 17 billion drams. According to the press service of the department, in July-September of this year, 97 operational investigative measures were carried out to uncover cases of tax evasion. The measures were carried out, in particular, in relation to business entities engaged in the trade of building materials, food products, vegetables and fruits, clothing, furniture, household goods, household appliances, cosmetics, diesel fuel,...
09/27/2024Ardshinbank hosts panel discussion on economic and trade sanctions as part of 33rd EBRD Business Forum
... Board, Director of Risk Management of Ardshinbank. Additionally, the meeting also discussed the role of financial institutions in ensuring sanctions compliance, mechanisms for collaboration between the public and private sectors in combating sanctions evasion, and the importance of information transparency. The panel discussion was attended by international experts such as Arakel Meliksetyan, Head, Financial Monitoring Center, Central Bank of Armenia, Elitza Kavrakova, Group Head of Institutional Clients,...
05/16/2024A website and an application for citizens to declare their income will be launched in Armenia
... income under civil law contracts. From 2025, declarations will have to be filed by all those resident citizens who are not included in the above two groups. Citizens must submit declarations by May 1 of each year following the reporting year. In case of evasion and tardiness, fines are envisaged - 50 thousand drams for entrepreneurs and 5 thousand drams for other citizens. --0--
12/28/2023Armenian Foreign Minister says there is a real window of opportunity to conclude peace treaty with Azerbaijan
... Armenian Foreign Minister noted that in order to achieve peace, it is necessary for Azerbaijan to demonstrate a constructive approach as well. "We hope that Azerbaijan will demonstrate constructiveness. We see both positive signals, such as the release of Armenian prisoners of war and detainees, Armenia's support for Azerbaijan's bid to host the 29th session of the UN Climate Change Conference, and negative signals - I mean periodically sounding aggressive statements and appeals, as well as evasion from high-level negotiations," Mirzoyan said. Peace between Armenia and Azerbaijan can be achieved in the first months of 2024, Iranian Foreign Minister Amir Abdollahian said. "A stable peace can be achieved in the first months of 2024 ...
12/27/2023Armenia bans real estate registration without notary because of money laundering risk
... Civil Code in the second and final reading. YEREVAN, November 22. /ARKA/. Armenian parliament on Wednesday approved an amendment to the Civil Code in the second and final reading. The legislative initiative is aimed at eliminating the risk of tax evasion and money laundering. Until now, the Civil Code allowed to register property transactions (sale, lease, etc.) in the State Committee of Cadastre without a notary certification, if they were concluded according to ready-made samples. However, the ...
11/22/2023Armenian 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 ...
11/09/2023Shadow economy activity in Armenia estimated at about 240 bln drams – head of SRC
... said on Tuesday. YEREVAN, October 31. /ARKA/. Armenia has a shadow economy with a turnover of about 240 billion drams, Head of the State Revenue Committee (SRC) Rustam Badasyan said on Tuesday. According to him, about 120 billion drams are tax evasion (unpaid VAT) and as much are unpaid income taxes. "We cannot claim that we will be able to eliminate the shadow economy completely. Nevertheless, it is obvious that it should be reduced," Badasyan said at the parliamentary hearings on ...
10/31/2023Head 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 ...
10/30/2023Owner 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 ...
06/21/2023Debunking 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 ...
05/19/2023Minister: 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 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 ...
04/07/2023More 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 ...
03/01/2023Nor 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...
02/20/2023European Union adds Russia to its tax haven blacklist
... Barbados, Jamaica and Uruguay. "We ask all listed countries to improve their legal framework and to work towards compliance with international standards in taxation," Sweden's finance minister Elisabeth Svantesson said. Countries on the tax evasion list are not eligible to seek help from certain EU funds, and EU member states are asked to apply special scrutiny to their tax-registered individuals and firms. EU members are also supposed to keep a foreign jurisdiction's tax-list status in ...
02/14/2023Armenia is in favor of establishing relations with Turkey and opening borders with no preconditions - Armenian President
... of establishing relations with Turkey and opening the borders with no preconditions,’ Armenian President Vahagn Khachaturyan said in an interview with SpecialEurasia. According to Khachaturyan, the wording “no preconditions” is not a diplomatic evasion and also refers to the issue of the recognition of Genocide. ‘Unfortunately, I should highlight that throughout decades, Turkey has been the first to put forth preconditions for opening the borders and normalizing relations, in some sense serving ...
11/22/2022Fresh 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...
11/18/2022Armenian 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 ...
07/25/2022Private 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 ...
06/20/2022Armenia 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 ...
03/03/2022Opposition MP says Golden Palace hotel sale is a corruption case
... Golden Palace would be bought by a rich foreign company. And suddenly it emerged that it was bought by an Armenian company. After an in-depth study it turned out that this company was fined several times by the State Revenue Committee of Armenia for tax evasion," Manukyan said. According to Manukyan, the most important part in this story is the hotel purchasing scheme. He explained that according to the sale contract the 5 billion drams will have to be paid by installments during 5 years. "This ...
02/18/2022Armenian 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’ ...
02/16/2022Illegal 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 ...
11/26/2021Armenia 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 ...
10/28/2021Another training camp announced for Armenian reservists
... and they will be paid for each month at the staffing rate for the assigned military post, depending on military rank and other factors. Participation in the training camp will be included in the length of service or military service of the citizen. Evasion of the training camp is punishable by law. -0-
09/07/2021Armenian defense ministry announces three-month training camp for privates, warrant and reserve officers
... and they will be paid for each month at the staffing rate for the assigned military post, depending on military rank and other factors. Participation in the training camp will be included in the length of service or military service of the citizen. Evasion of the training camp is punishable by law. -0-
08/20/2021Armenian 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 ...
06/01/2021Armenia amends law to amnesty draft evaders
... Armenia) with an opportunity to return to their homeland and contribute to the economic and social development of the country. He added that the decision is also meant to mitigate the consequences of the last autumn war in Nagorno-Karabakh. Under the law, evasion of mandatory military service is a crime that is punished with a fine in the amount of 300 to 500 minimal salaries, or arrest for a term of up to two months, or imprisonment for a term of up to two years. In particular, the amnesty applies to ...
05/06/2021Armenia to amnesty draft evaders
... start of the latest war with Azerbaijan on September 26, 2020 in the Nagorno-Karabakh conflict zone. In particular, the amnesty applies to privates who have reached their 27th birthday by that period, and reserve officers who turned 35. Under the law, evasion of mandatory military service is a crime that is punished with a fine in the amount of 300 to 500 minimal salaries, or arrest for a term of up to two months, or imprisonment for a term of up to two years. According to the minister, the amnesty ...
04/08/2021State 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 SRC initiated 622 criminal cases in 2020, which caused 21 billion dram worth damage
... Committee (SRC) initiated 622 criminal cases, which caused about 21 billion dram worth damage, Vahan Charkhifalakyan, head of SRC operative search and investigation department, said at a press conference on Friday. In his words, 244 cases involved tax evasion, 62 cases - deliberate insolvency, 23 - illegal business activities, and 265 criminal cases involved drug and psychotropic drug smuggling. “In 2020, as a result of investigations, 7 billion drams were recovered for the state budget, up from ...
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