At October 28 National Assembly sitting, the Armenian Deputy Minister of Finance Arman Poghosyan presented for debate the bill 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 Singapore.
The Agreement was signed in Singapore on July 8, 2019. The goal is the formation of more favorable and stable tax environment compared with the entities of two countries and the national legislations for the physical persons.
The right to preference and priority of taxation on passive revenues is reserved to the country being considered as a payment source. In case of passive revenues, 5% rate is designed for interests and royalties, in case of dividends - 0%, if a company receives them, which directly owns at least 25% of the regulatory capital of the company paying dividends or has investment equivalent to at least 300.000 USD in the regulatory capital.
The member of the NA Standing Committee on Economic Affairs Hripsime Stambulyan in her co-report presented the endorsement of the Committee.
