The Armenian government, at its Cabinet meeting Thursday, approved the ratification of the agreement with the government of the Hong Kong special administrative region of China on ruling out the double taxation of income as well as to prevent tax avoidance and evasion.

The aforesaid agreement was signed on June 24 in Yerevan, by which the terms and rates of taxation of the main types of income—dividends, interest, royalties—in the country of receipt of income are defined for the business circles of the two parties—and on the principle of reciprocity.