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Armenian Government Declares War on Shadow Economy to Collect Millions in Taxes

To fight the shadow economy, the Armenian government won't take legislative initiatives, but will go into dialogue with entrepreneurs, said RA Deputy Minister of Finance Armen Alaverdyan in conversation with journalists in parliament today. 

"Whoever you're referring to [i.e. entrepreneurs], they pay taxes; it’s just that the amount doesn’t satisfy us. We’re not talking about 10 million, 20 million [AMD]; we’re talking about hundreds of millions and billions, [the collection of] which we have to consistently implement," he said. 

According to Alaverdyan, if this work in the fight against the shadow economy is not carried out, the 2014 budget, for which 1 trillion 100 billion AMD in revenue is expected, will not be realized. 

The deputy minister said his ministry will fight against the shadow economy in the areas of construction, milk and dairy products, bread and bread products, fuel, gas, and healthcare. 

Alaverdyan is convinced that the shadow economy is great in the area of imports, since entrepreneurs record low profitability or don't register employees. 

He said that in the retail sector, attention will be paid to supermarkets. "We have invited and met with more than 60 supermarket owners," he said.