Uncovering the Hidden Tax Liabilities of 'Nor Zovk' and 'Alex Textil'

It has been revealed that the companies 'Nor Zovk' and 'Alex Textil' concealed their sales turnover. This information has been provided by the press service of the State Revenue Committee.

"The State Revenue Committee of the Republic of Armenia reminds that in February 2023, a database (server) operated by 'Aktrade Soft' LLC, reflecting the actual sales turnover of taxpayers, was identified. As a result of decrypting the information contained in the server and the comprehensive tax audits conducted by the committee, circumstances of concealing sales turnover were confirmed.

During the comprehensive tax audits in May and June 2023, certain organizations have already submitted revised tax reports declaring previously concealed tax liabilities, resulting in an additional tax obligation of about 4.0 billion drams for 'Nor Zovk' LLC, while 'Alex Textil' LLC incurred an additional tax obligation of 1.1 billion drams.

Based on the information extracted from the database (server), investigations and audits regarding the clarification of other taxpayers’ tax liabilities are ongoing," the statement said.