YEREVAN. - At the moment there is no need to sign a double taxation agreement between Armenia and US, US Ambassador to Armenia Richard Mills told Armenian News – NEWS.am.

Responding to the question as to whether he doesn't think that such an agreement will be beneficial for both sides, the Ambassador noted that he understands that Armenia has certain interest in signing the double taxation agreement, however, according to him, based on their assessments in the embassy and Washington, currently there is yet no need to sign it.

Mills also noted that they have received no information from US or Armenian citizens on that the absence of such an agreement has somehow prejudiced their activity. According to their assessment, there are other high priorities which both governments should focus on in order to open ways for large investments.

Furthermore, Ambassador Mills added that according to the estimates of the US Department of the Treasury, there is no need to sign such an agreement either.

Should such a need rise later, the embassy is ready to take steps, he noted.

Apart from this, the diplomat stressed that if they are informed on such cases when an entrepreneur suffers losses due to the absence of this agreement or the absence of the agreement served as a reason for not making investments, the embassy will make a proposal to sign such an agreement with Armenia based on those fact, Mills concluded.