Armenia and Japan sign convention on avoidance of double taxation
YEREVAN, December 27. /ARKA/. Armenian Finance Minister Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Aoki Yutaka, signed the Convention on the Avoidance of Double Taxation of Income between the Republic of Armenia and Japan, as well as the Prevention of Fiscal Evasion and Avoidance, on Thursday, the ministry’s press service reported.
The Convention will create opportunities to stimulate entrepreneurship in both countries, foster competitive conditions, encourage favorable investment activities, and establish a stable tax environment for investors.
The signing of the Convention is expected to expand the trade of goods and services between Armenia and Japan, facilitate the movement of capital, technology, and people, and strengthen economic ties.
According to Armenian Statistical Committee, trade turnover between Armenia and Japan for the first 10 months of this year amounted to $109.6 million, reflecting a decline of 65.2% compared to the same period last year.
