Armenia's budget deficit fuels tax crackdown on business tycoon Aleksanyan

Armenian tax authorities have launched extensive inspections into the companies owned by businessman Samvel Aleksanyan, a prominent figure who was once seen as close to the current government.

The inspections have raised concerns about the country’s budget deficit, as authorities are seeking additional revenue.

According to Yerevan-based Hraparak newspaper, the tax officials are thoroughly reviewing the documentation and products from Aleksanyan's businesses, Caliber.Az reports.

These inspections have already led to the suspension of ethyl alcohol exports, with rumours circulating that the government has demanded Aleksanyan pay $15 million in taxes.

However, Aleksanyan reportedly refused, citing financial difficulties.

Sources suggest that the request for such a large sum may be related to the country's ongoing budget deficit, as the government seeks to address financial shortfalls.

The State Revenue Committee has confirmed the inspections, clarifying that they are part of a broader risk assessment process rather than targeting specific companies or their owners.

By Tamilla Hasanova