Fines for inaccurate tax accounts to be imposed in Armenia 

ArmInfo.Administrative liability will be established in Armenia for including false, incorrect information in tax calculations. The initiative of the State Revenue Committee (SRC) to amend the Code of Administrative Offenses was discussed in the second and final reading by the parliament on September 11.

As stated by Deputy Head of the SRC Artur Manukyan, the current code  defines liability measures for failure to submit tax calculations,  but does not establish liability measures for cases where the  information contained in tax calculations is filled in incorrectly  and inaccurately.

As Manukyan explained, this concerns information that is not related  to the calculation of the tax within the framework of calculating  this tax, but is very important and is related to the calculation of  the tax for this type of tax in the future and the research and  analysis conducted by the tax authority.

The initiative specifies the range of administrative violations  subject to inspection by customs and tax authorities. In particular,  it is proposed to establish a warning when false information is  included in a tax calculation for the first time. In the future,  within one month from the date of the warning, if the violation is  not corrected, a fine of ten minimum wages will be imposed. After  another month, the fine will increase to fifty times the minimum  wage. Administrative liability does not occur in cases where the  taxpayer independently submits corrected calculations.