ArmInfo. Armenian tax officials have uncovered a shadow turnover of $10 million from a major taxpayer in the construction materials market, as reported by the SRC press service.
According to operational data received by the SRC industry department, the said enterprise consistently conducts retail and wholesale sales of construction materials, often without providing the relevant tax payment documents. This practice has allowed them to significantly understate sales turnover. To clarify the data and determine the actual sales volumes, simultaneous activities were carried out at the company's trading points in different administrative districts of Yerevan. Important factual information of operational interest was obtained on site, serving as the basis for a preliminary financial analysis. According to the State Revenue Committee, the company's undeclared turnover was approximately 4 billion drams, resulting in significant losses for the state - about 1.1 billion drams. A criminal case was initiated by the General Department for Investigation of Economic Crimes and Smuggling of the RA Investigative Committee. As part of the investigative and procedural measures, searches were conducted at the company's legal and operational premises. Documents, electronic media and other materials relevant to the preliminary investigation were seized.
