Deputy Minister of Finance Arman Poghosyan stated, at the session of the National Assembly, that Armenia should ratify the agreement against international tax evasion. His remarks came during the discussion of the ratification of this agreement today.

According to the Deputy Minister, the mentioned agreement was made by the international initiative BEPS (Base Erosion and Profit Shifting), which fights against violations of the taxation base and profit shifting to offshore zones. The initiative itself was created by the countries of the Organization for Economic Cooperation and Development (OECD). Other states may also join the initiative. Armenia is a member of the BEPS Initiative.

The Convention allows BEPS countries to establish common approaches to double taxation of businesses.