Avoidance of double taxation to promote creation of favorable conditions for US business in Armenia

YEREVAN, NOVEMBER 23, ARMENPRESS. A businessman should not pay the same tax for two times for a unilateral deal. The agreement of avoidance of double taxation with respect of taxes on income and on capital signed between Armenia and the USA is one of the factors that will contribute to the creation of favorable condition for US business in Armenia. “Armenpress” reports that First Deputy Minister of Economy Geregin Melkonyan expressed such confidence.

“We have been negotiating with the USA for 2 years over the agreement on avoidance of double taxation. It is not desirable both for the investor and the purchaser to pay two times for the same tax in case of unilateral deals.The US side says that it is necessary to see whether the private sector raises such an issue or not. We don’t agree with them in that respect. We should not wait for the private sector to raise the issue, and only then start solving it. As a state, we are obliged to initiate the solution of the existing problems,” First Deputy Minister stated.