Armenia Calls For US DTA
by Mike Godfrey, Tax-News.com, Washington
25 August 2011
The Armenian National Committee of America has appealed to US Secretary of the Treasury, Timothy Geithner to push forward the negotiation of a double taxation agreement between the US and Armenia to promote trade.
In a two-page letter, ANCA Chairman Ken Hachikan urged certainty for investors. He said a double tax agreement "would create a clear framework for investors and individuals that have business activities or own and manage a property or any other taxable asset in both jurisdictions. It would prevent many tax disputes from arising, and provide clear avenues for tax dispute settlement."
He also stressed that the absence of an existing agreement, "seriously and substantially impacts the quality and quantity of commerce between the US and Armenia," noting, in particular, that: "The lack of clarity that results from the absence of this treaty forces potential investors to add an element of uncertainty, potential costs, and new risks into their business calculations. This uncertainty represents a material, often decisive, deterrent for potential US investors in Armenia."
Hachikan continued: "Very simply, the lack of a US-Armenia Double Tax Treaty makes Armenia a less attractive place for American corporations to invest, while, at the same time, its absence makes the US less attractive for Armenian companies doing business abroad."
He added: "Armenia’s neighbor, Turkey, has a Double Tax Treaty, as do Russia, Ukraine, and all the Baltic states: Estonia, Latvia, and Lithuania. Israel, Ireland, Italy, Greece, and other countries with large diasporan communities in the United States also have such accords in place, yet Armenia does not."
The ANCA first advocated a Double Tax Treaty as early as 2004, and has also called for the negotiation of a US-Armenia Trade and Investment Framework Agreement.
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Big changes Afoot... »
- I.T. is IT! »
- What Is a Registered Agent, and Why You Need a Registered Agent for Your Business? »
- Spring Cleaning? »
- Brexit and Covid and Tax, Oh My! »
- Why is the Hong Kong startup ecosystem growing rapidly? »
- Happy Holidays? »
- COVID Continues To Capture Headlines »
- Taxing The Zeroes And Ones »
- Value Added News... »