Armenia negotiates agreement with Iraq to exclude double taxation
YEREVAN, FEBRUARY 19, ARMENPRESS. Minister of Finance of the Republic of Armenia Vardan Aramyan received on February 19 the delegation of state tax authority of the Republic of Iraq. The parties touched upon the possibility of signing an Agreement between the Republic of Armenia and the Republic of Iraq on Excluding Double Taxation of Revenues and Property and Preventing the Avoidance of Taxation, ARMENPRESS was informed from the press service of the Ministry of Finance of Armenia.
The increase of the volume of trade turnover with Iraq, which comprised 2.7 %, served as a basis for the signing of double taxation agreement. According to the Deputy Minister of Finance Davit Ananyan, it is quite a high indicator, and it is planned to take this circumstance into consideration while negotiating the agreement on excluding double taxation. “The Republic of Iraq is one of those exclusive countries where the volume of imports exceeds that of exports in terms of import-export balance, i.e. for Iraqi Republic, we are mostly an exporting country”, - said Ananyan. According to Deputy Minister, not only the export volumes promote the singing of double taxation agreement. In his opinion, the signing of the agreement promises a more balanced tax field for both countries in terms of business links.
The negotiations envisaged on February 19-22 regarding the signing of an agreement excluding double taxation with Iraq are the pre-singing stage, and after their completion the intergovernmental singing of the agreement will take place.