Monday, February 12 2018 13:06
Naira Badalian

The Ministry of Finance of Armenia plans in March 2018 to discuss with the American side the question of excluding double taxation

The Ministry of Finance of Armenia plans in March 2018 to discuss  with the American side the question of excluding double taxation

ArmInfo. The Government of  Armenia plans to address the issue of excluding double taxation  between Armenia and the US in March 2018 - during the next meeting of  the intergovernmental commission. The RA Minister of Finance Vardan  Aramyan told journalists on February 11 on the margins of the seminar  on "Awareness of mass media representatives".

Vardan Aramyan reminded that the issue is permanently on the agenda  of bilateral relations. Recently, the processes in this direction  became more active - for the last time during the meeting of the head  of the Ministry of Finance of Armenia and the US Ambassador to  Armenia. Nevertheless, the solution of the question is still marking  time. "We cite our arguments, they are our own, perhaps, on the other  hand, we need to approach the solution of this problem," the minister  said.

In any case, as the Armenian Ministry of Finance confidently states,  the absence of an agreement on the exclusion of double taxation  hinders the adoption of positive decisions by economic entities. Such  an example has already been fixed, Aramyan said. In particular, the  company "Contour global" entered the Armenian market through the  Luxembourg company. "It's quite logical that Armenia and Luxembourg  have an agreement on the exclusion of double taxation, which, in  turn, inspires confidence about what the principles of international  taxation should be." If I were at the site of this company, I would  have made such a decision myself, - Vardan Aramyan said. 

At the same time, as he pointed out, the existence of a new treaty is  extremely important if there is a desire to expand bilateral economic  ties - trade or investment.  Nevertheless, the minister found it  difficult to name the terms of the agreement. To date, the head of  the Armenian Ministry of Finance is satisfied that his American  colleague Stephen Mnuchin responded positively to the initiative,  expressing his readiness to discuss the issue. "I think this is a  step forward," concluded Vardan Aramyan.

February 7, ArmInfo reported that the US Department of Treasury  expressed its readiness to discuss the revision of the Treaty on  Avoidance double taxation with Armenia. Earlier, Congressmen Brad  Sherman and David Valadou initiated the collection of signatures in  the US Congress under an appeal to the head of the Treasury to resume  negotiations on the revision of the existing double taxation order  between the United States and Armenia.  US Treasury Secretary Stephen  Mnuchin, "reacting to the growing interest of congressmen regarding  the revision of the existing document," noted that the Treasury  Department will allocate the appropriate human resources for studying  the Treaty on Avoiding Double Taxation with Armenia.

It should be noted that for several years the Armenian lobby of the  United States, together with the members of the Armenian support  group in the Congress, is trying to achieve the abolition of the  double taxation system between Yerevan and Washington. Negotiations  started on this account ceased without giving concrete results. The  issue of exclusion of double taxation between Armenia and the US has  been discussed for over 20 years - since 1994, the Armenian  government has raised this issue. In 2000, during the  Armenian-American intergovernmental meeting, the issue of the need to  conclude a treaty was raised.  Since then, although preparatory work  is under way to conclude a treaty, in fact, the talks themselves have  not started. 

Earlier, Armenian Minister of Finance Vardan Aramyan, responding to  the question of ArmInfo, recalled that in June 2017, Armenia joined  the 15th Action "Organization for the Development of Economic  Cooperation in the framework of the program to prevent the  destruction of the tax base and the transfer of profit" (BEPS), along  with 68 countries around the world, which makes it possible to  interpret treaties against double taxation in a uniform way. Becoming  a party to the agreement, the country establishes clear rules of the  game in the tax field, and raises the reliability of the country from  the point of view of the investor.

Armenia has similar agreements with 47 countries, the last agreement  was recently signed with Israel. The purpose of these agreements is  to eliminate double taxation in foreign trade between two states,  avoid tax discrimination with respect to economic entities of the  parties, exclude double taxation on property and income, and create a  predictable and stable tax environment for business.

POST A COMMENT
Input digits     


News
GeoProMining: Criminal elements in Armenia hinder the activity of large Russian investors
Pashinyan: The State Revenue Committee is tasked to increase the revenue part of the budget several times by removing the shadow economy
At the Armenian consumer market, the annual inflation in April 2018 was 2.4%
French company to be consultant in interstate highway M-6 restoration and improvement project
Armenian PM demands to strengthen control over quality of agricultural products exported to Russia
The annual revaluation of AMD against USD in April 2018 was 1% with inflation of 2.4%
Armenia counts on the beginning of construction of the second power unit of Yerevan TPP in the very near future
Nikol Pashinyan took part in work of 18th Forum of Union of IT Companies (UITE)
RA Ministry of Agriculture intends to continue and expand scope of cooperation with FAO
In the Ministry of Agriculture, EBRD presented Bank`s strategy and priorities for 2018-2019 in Armenia
Armenian Minister of Finance received head of Armenian office of European Bank for Reconstruction and Development
Fitch Affirms ACBA-Credit Agricole Rating at `B +` with Stable  OutlookFitch Affirms ACBA-Credit Agricole Rating at `B +` with Stable Outlook
Pobeda airline offers Rostov-Gyumri flight passengers a transfer to Yerevan
Armenia and Israel will not apply double taxation to business
Armenia`s share in customs duties distribution to increase within EAEU framework
The Armenian government will have the right to set other state tax rates
Armenian government intends to create equal conditions for producers and importers of brandy
Ambassador: Germany is ready not only to maintain current economic ties with Armenia, but also to take steps towards further cooperation.
Armenian government intends to complete all joint programs with IMF
EBRD is ready to assist Armenia, both in the energy sector and in the development of infrastructures
Lydian Armenia presented first annual report on Amulsar project
Beeline announces the improvement of the recruitment process
Armenian PM and Swiss Ambassador discussed issues related to development of Armenian-Swiss relations
BSRDB and Ameriabank signed second $15 million contract for SME loaning
Famous economist Acemoglu ready to help Armenia
Nikol Pashinyan is satisfied with trends of economic growth and positive economic expectationsNikol Pashinyan is satisfied with trends of economic growth and positive economic expectations
In the French Bordeaux, the Days of Armenian wine are held at the La Cite du Vin Museum
A. Javadyan: There was no significant outflow of capital from Armenia on the days of the protest movement. Early closure of deposits was observed in small amounts, but since May 10, a rapid recovery registered
More accessible calls to Artsakh for Beeline subscribers
The Ministry of Labor proposes to increase the lump sum at the birth of the second child from 50 to 150 thousand AMD


Exchange rates
24.05.2018
RUB7.860.03
USD482.650.17
EUR566.100.49
GBP646.462.49
CAD375.340.69
JPY44.00-0.01
CNY75.63-0.03
CHF487.130.02

Experts
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects
Rating-Agentur Expert RA GmbH and AmRating issued an industry report  on Armenia`s banking systemRating-Agentur Expert RA GmbH and AmRating issued an industry report on Armenia`s banking system
Igor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care ofIgor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care of
Ara Khzmalyan: Armenia is comfortable to Russian touristAra Khzmalyan: Armenia is comfortable to Russian tourist
The Armenian delegation to the US followed the advice of President TrumpThe Armenian delegation to the US followed the advice of President Trump
Outflow of population and passivity of the Diaspora pushes property prices downOutflow of population and passivity of the Diaspora pushes property prices down
Finombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and  non-creditworthy consumersFinombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and non-creditworthy consumers
Vahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distancesVahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distances
Gagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directionsGagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directions
Vitaly Nesis: Armenia is very promising from the geological point of viewVitaly Nesis: Armenia is very promising from the geological point of view
The market of OSAGO goes into virtual spaceThe market of OSAGO goes into virtual space
Ishkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banksIshkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banks
The second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP beginsThe second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP begins
Successful business is forging for years - to the jubilee of IC Successful business is forging for years - to the jubilee of IC "INGO Armenia"
Armen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasibleArmen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasible
Expert: Real estate market of Armenia started demonstrating weak  signs of recovery in I half-yearExpert: Real estate market of Armenia started demonstrating weak signs of recovery in I half-year
Amulsar: Ecology and РeopleAmulsar: Ecology and Рeople
GeoProMining - ten years of work for the benefit of the country, at the forefront of gold miningGeoProMining - ten years of work for the benefit of the country, at the forefront of gold mining
SolarOn will become a catalyst for the development of solar energy in  ArmeniaSolarOn will become a catalyst for the development of solar energy in Armenia
Armenia fits well  for installation of container mini hydroelectric power stations, developed by RosatomArmenia fits well  for installation of container mini hydroelectric power stations, developed by Rosatom

Search by date

Government Bonds

 

ISIN AMGB1029A250
Auction ID AMGB1029A250A
Date 12.05.2017
Issue date 29.10.2015
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Gyumri programmers won on hekaton Gyumri programmers won on hekaton "Innovative ideas for tourism development"
Armenian Lori opens a large international ski resortArmenian Lori opens a large international ski resort
A number of light and alcohol industry enterprises of Armenia will be  provided with state supportA number of light and alcohol industry enterprises of Armenia will be provided with state support
Expert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promiseExpert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promise
Expert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violationExpert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violation
Maxim Sokolov: Russian Federation remains the main trade partner of  ArmeniaMaxim Sokolov: Russian Federation remains the main trade partner of Armenia
Russian MP: Restoring railway communication between Armenia and  Russia through Abkhazia and Georgia meets the economic interests of  Yerevan and MoscowRussian MP: Restoring railway communication between Armenia and Russia through Abkhazia and Georgia meets the economic interests of Yerevan and Moscow
Amulsar program was awarded a certificate of compliance with ICMC standards in pre-production cycleAmulsar program was awarded a certificate of compliance with ICMC standards in pre-production cycle
Expert: Subsidizing is the worst model of softening the results of price increaseExpert: Subsidizing is the worst model of softening the results of price increase
Fitch improved outlook on Yerevan`s rating from Fitch improved outlook on Yerevan`s rating from "Stable" to "Positive"
Expert: Energy component of the Armenia-EU agreement conceals big threats for ArmeniaExpert: Energy component of the Armenia-EU agreement conceals big threats for Armenia
Armenian Energy Ministry raises permissible threshold of autonomous  generation of electricity on the basis of RES to 500 kW / hArmenian Energy Ministry raises permissible threshold of autonomous generation of electricity on the basis of RES to 500 kW / h
Beeline hosted the largest this year`s "Client`s Day"
Armenian Deputy Energy Minister urged ECC members to pay more  attention to climate change and greenhouse gas emissionsArmenian Deputy Energy Minister urged ECC members to pay more attention to climate change and greenhouse gas emissions
Compensation for OSAGO shows an impressive annual increase Compensation for OSAGO shows an impressive annual increase
In Armenia, imported electric vehicles will be exempt from all types of taxesIn Armenia, imported electric vehicles will be exempt from all types of taxes
David Lokyan: The volume of own incomes of Armenian communities will grow by 10%David Lokyan: The volume of own incomes of Armenian communities will grow by 10%
Human Rights organization Human Rights organization "Driver`s Friend": ban on right-hand drive cars - nothing more than a regular business project
In Q1 2017 foreign investments in the volume of $ 1 billion were  received to the real sector of Armenian economy  with annual growth  of 36.6%In Q1 2017 foreign investments in the volume of $ 1 billion were received to the real sector of Armenian economy with annual growth of 36.6%
Ameriabank is awarded Euromoney Award for Excellence 2017 as Best  Bank of the Year in ArmeniaAmeriabank is awarded Euromoney Award for Excellence 2017 as Best Bank of the Year in Armenia
Chinchilla fur factory will be established in ArmeniaChinchilla fur factory will be established in Armenia
Narek Sargsyan: Southern Avenue constructions are planned to be started this fall in the capital of ArmeniaNarek Sargsyan: Southern Avenue constructions are planned to be started this fall in the capital of Armenia
Thanks to cooperation between VivaCell-MTS and Fuler House-Building Center, 146 families in Armenia received housesThanks to cooperation between VivaCell-MTS and Fuler House-Building Center, 146 families in Armenia received houses
Armenian Ministry of Economy Development and Investment promises to drive the country`s  export extent of GDM to 45% in 5 yearsArmenian Ministry of Economy Development and Investment promises to drive the country`s  export extent of GDM to 45% in 5 years