RA Criminal Code reserves punishment for the false entrepreneurial activity i.e. establishment of a commercial enterprise without intention to conduct entrepreneurial or banking activity, aimed at obtaining loans, evading from taxes, obtaining other property benefits or hiding prohibited activities, which inflicted a large damage to the citizens, commercial enterprises or to the state, is punished with a fine in the amount of 500 to 1000 minimal salaries, or with imprisonment for the term of 2-5 years.
Submission of false documents without supplying goods or without providing services, compilation and submission of false documents on expenses or income, which caused large damage, is punished with a fine in the amount of 1000-2000 minimal salaries, or imprisonment for 3-5 years.
The act envisaged in part 2 of this Article, causing particularly large loss is punished with a imprisonment for 4 -8 years.
By large loss, in part 1 of this Article, we mean an amount (value) exceeding 200 minimal salaries.
By large loss, in part 2 of this Article, we mean an amount (value) exceeding 500 minimal salaries.
By particularly large loss, in part 3 of this Article, we mean an amount (value) exceeding 1000 minimal salaries.
Persons guilty of crimes envisaged in this Article are exempted from punishment, if they compensate for the damage caused by the crime, estimated penalties and fines.
