ArmInfo. From January 1, 2020, transfer pricing adjustments established by the Tax Code of the Republic of Armenia will come into force in Armenia. In the State Revenue Committee (SRC) of Armenia, work has begun on the introduction of transfer pricing.
In particular, according to the press service of the department, a number of legal acts have been developed by experts of the tax and customs committee, which will soon be presented to interested parties. Thus, within the framework of the "Assistance to Improving Tax Compliance" program, implemented with the British Good Governance Fund, procedures have been developed for applying transfer pricing methods, implementing the principle (rule) of an outstretched hand, as well as methods for conducting an approval procedure.
International experts expressed their opinion on the developed projects, discussions were also held with Armenian taxpayers. Discussions are periodic, and their goal is to ensure a smooth and effective implementation of transfer pricing regulations.
It should be noted that as early as in June 2017, Armenia joined the 15th Action of the Organization for the Economic Cooperation Development in the framework of Base Erosion and Profit Shifting (BEPS) against transfer pricing. By becoming a party to the agreement, clear rules of the game are established in the tax field of the republic, and the reliability of the country increases from the point of view of the investor.
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