Armenia to sign multilateral convention to prevent corporate tax avoidance
Today, on June 7, Armenia’s Minister of Finance Vardan Aramyan is due to participate at the signing ceremony of “Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting”.
As the Ministry of Finance reports, the text of the Convention was developed and adopted by the working group comprised of the representatives of 99 member countries of the Base erosion and profit shifting (BEPS) project of the Organization for Economic Cooperation and Development (OECD). It is the 15th action of the project.
The signing of the Convention enables to define common approaches to some provisions of double taxation agreements for the taxpayers of all those countries, which have signed the document. These approaches will make the fight against tax evasion more effective.
It also assumes the acquisition of a status of reliable partner-country in the sphere of international cooperation.