Garadagh Cement JSC pays fines for tax evasion

Garadagh Cement JSC pays fines for tax evasion
Published: 18 September 2006

The Azerbaijani Tax Ministry has canceled one of the two tax evasion lawsuits brought by the Ministry’s Tax Crime Initial Investigation Dept. against the Garadagh Cement JSC. The Ministry’s Large-Scale Taxpayers Dept. inspected this company by the verdict of the Khatayi District Court between Dec. 29, 2005 and June 14, 2006. The investigation inquired into the company’s business between July 7, 1999 and Aug. 1, 2005 and revealed a tax evasion of AZN 3,062,300. The company was fined at AZN 797,686 and accurately paid the sum. 

The Ministry, however, said the lawsuit against one employee of Garadagh Cement is being continued. 

It should be reminded that the Ministry already checked the company’s activities of 2003-2004 in Feb. and May 2005. That inspection exposed a tax evasion of AZM 13,289.5 billion. The company was fined at AZM 3,409.9 billion. --08B