On June 24, the Armenian Finance Minister Vahe Hovhannisyan and the Commissioner of the Inland Revenue Department of the Hong Kong SAR Tam Tai Pang signed the "Agreement between the Government of the Republic of Armenia and the People's Republic of China" within the "Asian Initiative" of the OECD Global Forum on Information Exchange and Transparency for Tax Purposes held in Yerevan.
Signing the agreement will eliminate double taxation of income between the parties, which will stimulate business activity by creating favorable competitive conditions. This will enhance a favorable investment environment, stimulating bilateral trade turnover and investment flow, as well as a favorable and predictable tax environment for foreign investment, and will contribute to the growth of Armenia’s involvement in international tax relations.
