ArmInfo. The State Revenue Committee of Armenia (SRC) has identified a company providing regular inter- and intra-regional passenger transportation that failed to fully report revenue from services rendered in its tax returns.
As a result, the company underreported its turnover by approximately 4.3 billion drams for 2025-2026, resulting in approximately 1.1 billion drams in unpaid taxes.
Employees of the relevant SRC Department conducted a series of investigative operations, including reviewing data contained in the draft accounting logs for the company's services rendered. Drivers of a regular passenger transportation company were also interviewed during the investigation.
The information obtained was compared with the tax returns for the relevant period submitted by the company to the tax authority and contained in the State Revenue Committee's database.
A report was sent to the General Department for the Investigation of Economic Crimes and Smuggling of the Investigative Committee of Armenia regarding the presence of elements of a crime. Criminal proceedings have been initiated under the relevant article of the RA Criminal Code.
According to media reports, the company in question is MultiTrans, owned by renowned businessman, philanthropist, and leader of the Prosperous Armenia Party, Gagik Tsarukyan.
As a reminder, on July 6, the Investigative Committee of Armenia conducted large-scale searches of Gagik Tsarukyan's home and related properties at more than 70 addresses. Following the completion of the investigation, the properties were sealed, and the businessman was arrested for two months. Tsarukyan has been charged with a number of offenses, including organizing fraud and money laundering on an especially large scale.
He is also accused of fraud and embezzlement of $934,000, illegal hunting, and causing damage to the state in excess of $81,000. The charges were later expanded to include extortion and money laundering.
Furthermore, as part of the investigation, Tsarukyan's Yerevan Ararat Brandy-Wine-Vodka Factory, the Ararat Cement Plant, and the Multi Wellness sports complex were seized. The prosecutor's office is also demanding the confiscation of 75 properties from Tsarukyan and individuals associated with him, including 52 apartments in Yerevan's Nor Nork district, five apartments on Abovyan Street in central Yerevan, and 11 apartments in the Kotayk region. In addition, the market value of another 10 properties, 42 vehicles and shares in 38 companies is at issue.
