News
Show news feed

YEREVAN. – In October, Armenia will offer U.S. to conclude a double tax agreement, Armenian finance minister Vardam Aramyan told reporters.

The American side says they see no obstacles for their companies because of lack of such a treaty. Nevertheless, there can be no visible obstacles, but many potential investors could be deterred by a prospect of paying taxes twice. Besides, no one knows how many American companies had already refused to work with Armenia so far.

A double tax treaty provides for paying taxes only once. In other words, if a company paid taxes abroad, they cannot make them pay taxes in Armenia (and vice versa), Aramyan explained. The only case when it is possible: if a foreign tax is lower than the local one, you can demand a difference.

Armenia has double tax treaties with 47 countries, and Israel has become the last one to sign a such a document.

In June Armenia  became even better prepared for such contracts, because it joined the 15th BEPS Actions. This Action gives the opportunity to interpret double tax treaties in a common way.

“Thus, Armenia becomes a more predictable partner. In October we want again to raise the issue with the U.S. taking into account this fact,” the minister added.

!
This text available in   Հայերեն and Русский
Print
Read more:
All
Photos