Thursday, September 7 2017 18:31
Naira Badalian

Armenia to implementation electronic confirmation of residency

Armenia to implementation electronic confirmation of residency

ArmInfo. Armenia simplifies the  process of confirming residency.  The decision on this was approved  at a meeting of the Armenian government on September 7.

Vardan Aramyan, the Minister of Finance of Armenia, proposed to amend  the government's decision of October 6, 2004, in order to exclude  double taxation of property and income and implementation of  international treaties of RA.

According to the head of the Ministry of Finance, for today the  non-resident of Armenia, who is operating in Armenia and receiving  income from sources in Armenia, provided there is an agreement on  avoidance of double taxation, which provides for a different taxation  regime than that dictated by RA tax legislation, must document its  residence by submitting a residency certificate. According to the  proposed changes, henceforth it will be possible to confirm the  residency with the help of the web-page, that is, the electronic  publication of the competent authority of another state.

To note, Armenia has agreements on avoidance of double taxation with  47 countries, the last agreement was signed recently with Israel. The  purpose of these agreements is to eliminate double taxation in  foreign trade between the two states, to prevent tax discrimination  against economic entities of the parties, to exclude double taxation  on property and income, and to create a predictable and stable tax  environment for business. It is noteworthy that the issue of  excluding double taxation between Armenia and the US has been  discussed for over 20 years - since 1994. In 2000, during the  Armenian-American intergovernmental meeting, a question was raised  about the need to conclude an agreement, but since then the  preparatory work has not been completed, nor has the negotiation  process started.

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