YEREVAN — Armenia’s State Rev- enue Committee says it has uncov- ered nearly AMD 300 million (appx. $820,000) in undeclared turnover at an entertainment and leisure center owned by businessman Gagik Tsarukyan. According to the committee, com- pany officials underreported the busi- ness’s actual sales revenue, resulting in lower tax liabilities being calculated and paid to the state budget. The investigation found that ap- proximately AMD 300 million in rev- enue generated from 25 banquets or- ganized by the company in 2025 and 2026 was not included in tax filings submitted to the authorities. As a result, approximately AMD 82 million (appx. $220,000) in taxes was neither calculated nor paid to the state budget, the committee said. Law enforcement authorities have initiated criminal proceedings on sus- picion of tax evasion. Tsarukyan, a businessman and leader of the Prosperous Armenia Par- ty, was remanded in custody for two months on July 7 on charges of par- ticularly large-scale fraud and money laundering. His attorneys have de- scribed the accusations as baseless.