ArmInfo. On December 12, at a regular meeting, the Armenian government approved the draft law .
As stated in the explanatory note to the document, the agreement was signed in Yerevan on June 24, 2024. The terms and rates of taxation of dividends, interest, and royalties in the country of receipt of income have been determined for the business circles of the contracting states., the document says.
Earlier, the former head of the State Revenue Committee (SRC) of Armenia, Rustam Badasyan, noted that offshore schemes are quite widespread in Armenia. The thing is that, as Badasyan pointed out, a country may not be offshore, but an agreement concluded with it on the avoidance of double taxation may provide certain advantages. 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 on property and income, and create a predictable and stable tax environment for business. But there are situations when these agreements are applied in such a way that double is obtained - the tax is not levied either here or there., - Badasyan noted.
In particular, he emphasized, double taxation avoidance agreements concluded with the United Arab Emirates, Luxembourg and Cyprus cause serious problems. , - the chief tax officer of the Republic of Armenia indicated then.
Armenia has concluded agreements on the avoidance of double taxation with about 50 countries of the world.
