YEREVAN. – Armenia continues negotiations with the US on eliminating double taxation between the two countries. 

The Minister of Finance of Armenia, Vardan Aramyan, stated about the aforesaid at a press conference on Monday.

In his words, even though the American side believes that the current respective system may be beneficial to both sides, Yerevan does not agree with this. 

Aramyan said Armenia’s taxation procedure with the US has existed since the 1970s, and as a continuation of a similar agreement that was signed with the former Soviet Union.

“But much has changed during this period, and double taxation hinders businesses,” he noted. “[In addition to Luxembourg,] Armenia wishes to get rid of double taxation with eight other countries, by the year 2022.”