Armenia ratifies convention on the elimination of double taxation with Japan

YEREVAN, May 8. /ARKA/. At a meeting on Thursday, the Armenian government ratified the convention with Japan on the elimination of double taxation with respect to income and the prevention of fiscal evasion.

The convention was signed on December 26, 2024 in Yerevan. In accordance with the principle of reciprocity, the agreement establishes the conditions and rates of taxation of the main types of income - dividends, interest and royalties - in the country of receipt of income for the business circles of the contracting states.

The project, which was developed by the Ministry of Finance of Armenia, does not require additional financial resources and will not entail a significant decrease in revenues or an increase in expenditures of the state budget.

Earlier, the Ministry of Finance of the Republic of Armenia reported that the convention will create opportunities for stimulating entrepreneurial activity in both countries, promoting competitive conditions, favorable investment activity and a stable tax field for investors.

The department stated that the signing of the convention will expand the turnover of goods and services between Armenia and Japan, facilitate the movement of capital, technology and people, and strengthen economic ties.