ARARAT GOLD RECOVERY COMPANY FILES LAWSUIT AGAINST RA STATE TAX SERVICE

Noyan Tapan
Dec 12 2007

YEREVAN, DECEMBER 12, NOYAN TAPAN. Ararat Gold Recovery Company (AGRC)
has filed a lawsuit against the RA State Tax Service (STS) to the
RA Economic Court with the request to recognize the act presented
to the company in May 2007 as invalid. NT correspondent was informed
by the STS that a specification of the company’s relations with the
state budget and its fulfilment of certain legislative requirements
(controlled by tax body) were done at AGRC in May, as a result of
which AGRC is to pay additional tax liabilities of 3 bln 401 mln 35.9
thousand drams (about 11.1 mln USD) to the state budget. The Economic
Court will examine the case on December 14.

According to STS’s information, AGRC has submitted to the STS a
proposal on terms of signing a reconciliation agreement regarding
the above mentioned act.

From: Emil Lazarian | Ararat NewsPress