State Water Supply Company Hides Large Sums of Money: Findings of the Audit Office

The Republic of Armenia's State Audit Office has uncovered serious violations in the "Water Supply" closed joint-stock company, which operates under the Ministry of Territorial Administration and Infrastructure.

During the period from 2019 to 2022, the company disregarded the requirements of the Armenian procurement legislation in 843 instances under the framework of civil contracts, acquiring works and services amounting to 242,397,450 AMD for various purposes, including vehicle operation and service provision.

It was also noted that the company, acting as a tax agent, applied the income tax rates established by the Armenian Tax Code for each payment to individuals. However, in 483 cases, these figures were not reflected in the monthly reports submitted to the tax authorities regarding income tax and social payments.