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At February 4 sitting of the RA NA Standing Committee on State and Legal Affairs, the package of draft laws on Making Addenda to the RA Code of Administrative Procedure and the presented enclosed ones authored by the Government was debated in the first reading.

The RA Deputy Chairperson of the State Revenue Committee Tsovinar Soghomonyan has noted that the proposed amendments are conditioned by the implementation of commitments undertaken by Armenia and standards for exchange of information within the framework of the Global Forum of the Organization for Economic Cooperation and Development (OECD).

The Global Forum is an international structure, the activity of which is to implement the standards for the exchange of confidential information protected by law in banks for tax purposes and other financial institutions among about 160 member countries. Armenian has joined the Global Forum since 2015.

It is proposed to make addendum to ensure the exchange of information on request for tax purposes, envisaging the receipt of confidential information by the tax authority in banking and other financial organizations within the framework of a special proceeding.

Answering the deputies’ questions, the key rapporteur referred to the Global Forum, the toolkit of access to information and the procedure of information exchange with a foreign country, presented clarifications on the issues related to the terms of information exchange. The co-rapporteur Artur Davtyan underlined the necessity of the draft adoption.

The draft was endorsed.