4.2 Billion Dram Shadow Circulation Case by Casino

A case of misreporting tax bases by a casino has been uncovered, leading to the understatement of its actual operational volume. This information has been reported by the State Revenue Committee.

Recently, operational data were received by the division responsible for overseeing gambling activities, casinos, and lotteries. It was revealed that a casino operating in the town of Tsaghkadzor had been taking bets while circumventing the requirements of tax legislation, failing to include these transactions in its accounting and not reporting them to the tax authorities.

Various operational-investigative measures were organized and implemented. Substantial evidence was obtained indicating that the casino understated its turnover by approximately 4.2 billion drams. Additionally, other violations of legal requirements, which are monitored by tax authorities, were recorded.

According to preliminary calculations, the damage caused to the state by the casino amounts to around 887 million drams. Based on the report of the Investigative and Operational-Intelligence Division of the State Revenue Committee, a criminal case has been initiated in the Economic Crimes and Smuggling Investigations Main Department of the RA Investigative Committee on the grounds of tax evasion of substantial amounts.

As part of the investigative and operational measures, searches were conducted at the casino, and documents and electronic carriers of significant importance for the investigation were seized.

The State Revenue Committee informs that monitoring tax risks and cash transactions in the casino business will be ongoing.