ArmInfo. On May 16, the government of Armenia approved a draft law on ratification of the convention on avoidance of double taxation and prevention of tax evasion with respect to taxes on income and property between the Republic of Armenia and the Kingdom of Denmark at a meeting of the Cabinet of Ministers.
As Minister of Finance of Armenia Atom Janjughazyan stated, presenting the draft law, the document will be sent to the Constitutional Court for the purpose of establishing compliance with the provisions of the Basic Law of the Republic of Armenia. Further, upon approval by the Constitutional Court, the draft will be submitted to parliament for approval. Today, according to the head of the Ministry of Finance, Armenia has signed such agreements with 46 countries. A pre-signing has already taken place with 7 countries, 3 of them are ready for signing. Another 15 such documents are at various stages of reaching an agreement. It should be noted that the purpose of these agreements is to eliminate double taxation in foreign trade between the two countries, prevent tax discrimination against economic entities of the parties, eliminate double taxation of property and income, and create a predictable and stable tax environment for business. Back in June 2017, Armenia joined the 15th Action of the Organization for Economic Cooperation and Development in the framework of the Base Erosion and Profit Shifting (BEPS) program, along with 68 countries of the world, which allows us to interpret agreements against double taxation uniformly. By becoming a party to the agreement, clear rules of the game are established in the republic in the tax field, and the reliability of the country increases from an investor's point of view.