On January 24, the Convention on Mutual Administrative Assistance in Tax Matters of the Organization for Economic Cooperation and Development and the Council of Europe (amended by the 2010 Protocol) was signed in Strasbourg. The Convention is a unique multilateral instrument that makes all the formats of tax cooperation possible, preventing tax evasion and contributing to the fight against non-payment of taxes more effectively.
The main objective of the Convention is to create favourable conditions for international cooperation to improve tax legislation of the countries while maintaining the fundamental rights of taxpayers. The Convention includes almost all forms of tax cooperation: assessment of tax liabilities, tax collection, development of mechanisms for tax evasion and fight against non-payment of taxes, information exchange, etc.
It should also be noted that Armenia is the 117th country to join the Convention.