Massive Tax Evasion Uncovered in Sevan: 9.1 Billion Drams Lost

Sevan Company Evades 9.1 Billion Drams in Taxes: Armenian Authorities Launch Investigation Sevan, Armenia – In a major development, the State Revenue Committee of Armenia (SRC) has announced the discovery of a significant tax evasion case involving a company operating in the city of Sevan. The investigation revealed that the company, whose name has not yet been publicly released, underreported its sales revenue by an estimated 9.1 billion drams over a period of several years. "This is a serious case of tax evasion that has caused significant financial losses to the state," said an SRC spokesperson. "We are committed to bringing those responsible to justice and recovering the lost tax revenue." The investigation, carried out by the SRC's investigative and operational units, uncovered evidence of systematic underreporting of sales. The company allegedly used various methods to conceal its true turnover, including providing only internal accounting records to tax authorities and failing to use electronic cash registers. The SRC has initiated legal proceedings against the company. The investigation is ongoing, and further details are expected to be released in due course. The case highlights the ongoing challenges faced by Armenia in combating tax evasion and ensuring compliance with tax laws. The SRC's commitment to tackling such cases is crucial for maintaining a stable and fair economic environment in the country.