At October 20 sitting of the NA Standing Committee on Economic Affairs, the issue on Ratifying the Agreement for Exclusion of Double Taxation of Revenue and Prevention of Tax Evasion and Bypassing between the Government of the Republic of Armenia and the Government of the Republic of Malta was debated and endorsed.
As the RA Deputy Minister of Finance Arman Poghosyan informed, the document was signed in New York on September 24, 2019. It was revised in accordance with the principles of the model version being used for the member states of the Organization for Economic Co-operation and Development (OECD).
The goal of the Agreement is to exclude the double taxation of revenues and by that reduce the negative influence of the obstacles related to revenue taxes on the investors of two countries and the economic activities. According to the Deputy Minister, it will give an opportunity to encourage the entrepreneurship activity, creating competitive beneficial conditions for foreign investments.
The document proposes to design more favourable conditions and lesser rates from the taxation conditions set by the national legislation.