Armenian tax officers convicted developers in tax evasion on a large  scale

ArmInfo.The State Revenue Committee (SRC) of Armenia convicted the construction companies "Eranav" and "Khach 9" in tax evasion on a particularly large scale.

According to the information of the Tax and Customs Committee,  "Eranav" CJSC and "Khach 9", engaged in the construction of apartment  buildings in the administrative district of Davidashen, in 2015-2018  in the contracts for the sale of apartments indicated undervalued. As  a result of this, the reports submitted to the tax did not reflect  the real turnover on the sale of companies, as a result of which the  state was damaged in especially large amounts - more than 350 million  drams.

"On this fact, a criminal case was initiated on the grounds of part  2, article 205 of the Criminal Code of Armenia (evasion of taxes,  duties, or other obligatory payments) in the Investigation Department  of the RA SRC," the message says. The SRC investigators were also  able to identify the real value of the real estate sold.

When comparing sufficient evidence, as reported by the SRC, charges  were brought against the management team of "Eranav" and "Khach 9",  and in order to illegally avoid their pressure on witnesses in the  case and possible falsification of documents, they were arrested.

It is noted that the heads of the companies recognized the fact of  tax evasion, voluntarily submitted to the tax authority a revised tax  return, which resulted in additional tax liabilities in the amount of  over 425 million drams, of which 335 million drams have already been  restored to the state treasury. "Taking into account this fact, as  well as if there are sufficient guarantees regarding the fulfillment  of the entire volume of liabilities, the preventive measure for  company managers has been changed. Restrictions on bank accounts of  the above-mentioned persons have also been eliminated," the RA SRC  statement reads.