Over 1 Billion 432 Million AMD Tax Liability Identified for State Budget by the Tax Authority

According to a report prepared by the Large and Medium Taxpayers’ Audit Department of the State Revenue Committee, the company "Sahakyanshin" LLC failed to include VAT taxable turnover related to transactions carried out with the SRC in its VAT calculations for April, May, July, and September 2014, as per execution acts. Additionally, the company underreported its gross income in the profit tax calculations for 2014.

As a result, the company breached the requirements of the laws of the Republic of Armenia on VAT and Profit Tax.

For this and several other violations, a tax liability exceeding 1 billion 432 million AMD has been calculated, requiring additional payments to the state budget by "Sahakyanshin" LLC. The SRC’s Investigation Department is preparing materials regarding this case. Measures are being taken to recover damages incurred to the state and to uncover potential corrupt arrangements. Notice: A person accused of a crime is presumed innocent until proven guilty in accordance with the law by a court's legally effective judgment.

Press Service of the SRC of the RA