Japanese Parliament ratifies agreement on avoidance of double taxation with Armenia
YEREVAN, June 3. /ARKA/. The agreement on avoidance of double taxation between Armenia and Japan has been ratified by both houses of the Japanese Parliament, Deputy Chairman of the House of Councilors of the National Assembly of Japan Hiroyuki Nagahama said at a meeting with Deputy Speaker of the Armenian Parliament Hakob Arshakyan.
As reported by the press service of the National Assembly of Armenia, Nagahama said that this will serve to increase bilateral trade turnover.
Noting that there is significant potential for partnership in the field of high technologies, he confirmed his readiness to support the development of economic cooperation with Armenia.
On May 8 of this year, the Armenian government ratified the convention with Japan on the avoidance of double taxation with respect to income and the prevention of tax evasion.
The convention was signed on December 26, 2024 in Yerevan. In accordance with the principle of reciprocity, the agreement establishes the terms 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. According to Armstat, trade turnover between Armenia and Japan in the first quarter of 2025 amounted to approximately $27 million, increasing by 13.4% compared to January-March 2024.
