ArmInfo.On September 16, the Armenian government approved the RA draft law "On the ratification of the agreement between the governments of the Republic of Armenia and the Republic of Singapore on the elimination of double taxation and prevention of tax evasion on income" at the Cabinet meeting.
On March 18, the RA government ratified the agreement signed on July 8, 2019 between Armenia and Singapore. Now the need arose to ratify the document in accordance with the RA law "On International Treaties".
According to the RA State Revenue Committee, Armenia has similar agreements with 47 countries. The purpose of these agreements is to eliminate double taxation in foreign trade between the two states, to prevent tax discrimination against business entities of the parties, to exclude double taxation on property and income, and to create a predictable and stable tax environment for business.
