Armenia's shadow economy estimated at 22 percent
16.10.2019,
16:29
The share of Armenia's so-called shadow economy is estimated now at 22%, with small and medium-sized businesses accounting for the bulk of it, David Ananyan, the head of the State Revenue Committee, told reporters on Wednesday.
YEREVAN, October 16. /ARKA/. The share of Armenia's so-called shadow economy is estimated now at 22%, with small and medium-sized businesses accounting for the bulk of it, David Ananyan, the head of the State Revenue Committee, told reporters on Wednesday.
According to Ananyan, it is more difficult for larger companies to hide the “shadow” part of their businesses for several years because of regular inspections. He said most of the companies accounting for shadow economy are trade outlets and agriculture.
He said as a result of regular inspections the State Revenue Committee has so far recovered as much as 75 billion drams in avoided taxes and duties.
He said the State Revenue Committee received also 1,385 appeals against 640 received in 9 months of 2018. In his words, optimists would see in this elements of increasing public confidence in the agency, while pessimists would say it is increased dissatisfaction with the work of the agency.
He said the return of large evaded taxes and duties is being delayed because some of the cases are being considered by courts.
As for sensational cases involving evasion of taxes by former high-ranking officials who were supposed to return large sums to the budget, Ananyan said that all media stories claiming that his agency has allegedly forgiven them all the debts did not correspond to reality.- 0--
According to Ananyan, it is more difficult for larger companies to hide the “shadow” part of their businesses for several years because of regular inspections. He said most of the companies accounting for shadow economy are trade outlets and agriculture.
He said as a result of regular inspections the State Revenue Committee has so far recovered as much as 75 billion drams in avoided taxes and duties.
He said the State Revenue Committee received also 1,385 appeals against 640 received in 9 months of 2018. In his words, optimists would see in this elements of increasing public confidence in the agency, while pessimists would say it is increased dissatisfaction with the work of the agency.
He said the return of large evaded taxes and duties is being delayed because some of the cases are being considered by courts.
As for sensational cases involving evasion of taxes by former high-ranking officials who were supposed to return large sums to the budget, Ananyan said that all media stories claiming that his agency has allegedly forgiven them all the debts did not correspond to reality.- 0--
