1 / 12

At October 28 NA sitting, the parliament debated 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 , presented by the RA Deputy Minister of Finance.

T he 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. The document proposes to design more favourable conditions and lesser rates from the taxation conditions set by the national legislation.

“T he Agreement proposes to invest the idea of the permanent institution. This means that if the resident of Malta carries out entrepreneurship activity without forming permanent institution in Armenia, then the revenues received from the activity will be subject of taxation only in Malta, otherwise the revenues will be taxed only in Armenia,” the Deputy Minister underlined.

The member of the NA Standing (Head) Committee on Economic Affairs Hayk Tsirunyan presented the endorsement of the Committee. He called on to vote for it.