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The RA Minister of Finance, Vahe Hovhannisyan, and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Yutaka Aoki, Signed a Convention
26.12.2024
The RA Minister of Finance, Vahe Hovhannisyan, and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Yutaka Aoki, Signed a Convention

Today, the Minister of Finance of the Republic of Armenia Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia Yutaka Aoki signed the Convention “On the Exclusion of Double Taxation of Income and the Prevention of Fiscal Evasion and Circumvention of Taxes” between the Republic of Armenia and Japan.

The Convention will provide an opportunity to encourage entrepreneurial activity in the contracting states by creating favorable competitive conditions, a favorable investment environment and a stable tax field for investors.

The signing of the Convention will provide an opportunity to develop the circulation of goods and services, the movement of capital, technologies, and people between the Republic of Armenia and Japan, as well as contribute to the development of economic ties.

It is noteworthy that, as a result of the events of 2023, Armenia has accepted around 115,000 forcibly displaced persons from Nagorno-Karabakh (Artsakh) and has become a beneficiary of the Global Concessional Financing Facility (GCFF). This status enables Armenia to attract concessional financing for co-financing projects aimed at addressing refugee-related issues.

Among the most significant projects eligible for funding is the housing programme for forcibly displaced persons from Nagorno-Karabakh (and others). The Government of Japan has already officially announced a $10 million contribution to Armenia to support this initiative.