The under-calculated Taxes and Payments in the Amount of 824 Million AMD Restored to State Budget by Mining Company

The under-calculated Taxes and Payments in the Amount of 824 Million AMD Restored to State Budget by Mining Company

During preliminary investigation investigated in the General Department of Investigation of Smuggling and Economic Crimes of the RA Investigative Committee on a mining company under-calculated taxes and payments in the amount of 824.687.331 AMD has been restored to the state budget.

Particularly, through investigation it was grounded that in the result of the activity of the mining company between 2014 and 2020 the tax bases of royalty, profit tax, as well as environmental tax, which are considered natural use fees, had been under-declared. As a result, in terms of the mentioned fees and taxes, taxes and fees in particularly large amount were under-calculated and not paid to the state budget.

Within the framework of a number of procedural and evidentiary actions, as well as complex tax inspection and re-inspection conducted by the employees of the RA State Revenue Committee, specified calculation-reports were voluntarily submitted by the company. As a result, the sum of 824.687.331 AMD, additionally calculated in terms of taxes and fees, along with penalties, was paid to the state budget.

Preliminary investigation is ongoing.

Note; Everyone charged with alleged crime offence shall be presumed innocent until proved guilty according to law.

July 03, 2023 at 13:16