A serious tax violation has been uncovered in Armenia. The country’s Investigative Committee reported that a major construction firm had been concealing its income and evading taxes for a prolonged period.
According to the investigation, the owner of the company, which produces and sells construction materials, deliberately avoided paying taxes. From January to June 2020, the owner failed to issue receipts to customers and improperly documented sales transactions. As a result, the state budget was deprived of a substantial amount of tax revenue.
Upon discovering the violation, authorities initiated a criminal case against the company's owner, accusing him of large-scale tax evasion. Despite the gravity of the charges, the businessman was allowed to remain free on bail during the investigation.
During the investigation, the company admitted its wrongdoing and decided to rectify the situation. The firm submitted revised tax reports, reflecting its actual income for the specified period. Subsequently, the company paid the full amount of unpaid taxes, which totaled $715,056.
