The RA State Revenue Committee published a list of companies that have debts to the state budget. According to the list, Synopsys Armenia Company’s debt totals 281m AMD (about U.S.770,000). A somewhat surprising fact, as Synopsys Armenia has a reputation of a transparent and successful company.

Talking to NEWS.am, Hovik Musaelyan, Executive Director, Synopsys Armenia, said he was surprised at the fact the company was on the list. On the contrary, the Government has for many years failed to return the VAT the company overpaid during its activities. Even legal proceedings were instituted. “It was a court verdict. We effect money transfers until the Government’s debt runs out. The debt will be paid off in two or three months,” Musaelyan said.

The Government’s debt to Synopsys Armenia was accumulated due to the VAT overpayments the company effected in 2008.