Armenia eliminates double taxation of property and income with Serbia and Slovakia
The Armenian Parliament has ratified today two agreements to avoid double taxation and prevent tax evasion with respect to taxes on property and income with Serbia and Slovakia.
According to Deputy Minister of Finance Armen Hayrapetyan, the document on the mutual avoidance of double taxation on property and income with Serbia was signed in 2014 in Yerevan
“The main purpose of the agreement is to avoid repeated taxation with respect to business entities that would in turn eliminate possible obstacles to their operation, as well as create a favorable and predictable tax field for honest taxpayers,” – Hayrapetyan said.
He said the current trade turnover between the countries is quite low. In particular, in 2015 it amounted to $2.8 million, or 0.06% of the total trade turnover of Armenia. Hayrapetyan said that Armenian imports from Serbia prevailed.
As for Slovakia, Hayrapetyan noted that trade turnover with it 2015 was $6.4 million, or approximately 0.14% of the total trade turnover of Armenia. Armenian exports stood at only $0.04 million.
He said Armenia has such agreements with 41 countries, including CIS countries, as well as Georgia, Canada, Sweden, Thailand, China, India, Iran, Lebanon, the UAE, Kuwait and other countries.