ArmInfo.. The Minister of Finance of Armenia Vahe Hovhannisyan and the head of the Internal Revenue Committee of the Hong Kong Special Administrative Region of the People's Republic of China, Tai Pang Tam, within the framework of the "Asian Initiative" of the Global Forum on Information Exchange and Transparency for Tax Purposes, held in Yerevan, signed an agreement between the Government of the Republic of Armenia and the government of the special Hong Kong Administrative Region of the People's Republic of China on the elimination of double taxation of income and the prevention of tax evasion.
According to the press service of the Ministry of Finance of Armenia, the signing of the agreement will eliminate double taxation of income between the parties, which will stimulate business activity, creating favorable competitive conditions.
"This will create a favorable investment environment, stimulating bilateral trade turnover and investment flow, and will contribute to the growth of Armenia's involvement in international tax relations," the Ministry of Finance said in a statement.
The Government of Armenia, at a meeting on June 14 of this year, approved an agreement between the Government of the Republic of Armenia and the Government of the Hong Kong Special Administrative Region of China on the elimination of double taxation of income and the prevention of tax evasion.
