Armenia to Sign Double Tax Treaties with Singapore and Malta, Mutual Investment Treaty with Korea

Double Taxation

Picture from Texas Protax

According to Arman Poghosyan, Deputy Minister of Finance of Armenia, an agreement eliminating double taxation between the Republic of Armenia and the Republic of Singapore shall be expected in the near future.

In parallel, a Maltese delegation paid a first high-level visit to Armenia during which Foreign Affairs Minister Carmelo Abela met his Armenian counterpart Zohrab Mnatsakanyan. Reportedly, Malta and Armenia will sign a double tax treaty in the coming months. In 1993, bilateral relations between Malta and Armenia were already established, and in 2017, a Cultural Agreement was signed between the two countries. In February 2019 a Memorandum of Understanding on the Establishment of Political Consultations was signed.

Double Taxation

Carmelo Abela

Maltese Foreign Affairs Minister

Malta is open to exploring new areas of cooperation, which would be strengthened by mutual political will.”

Malta ratified the EU-Armenia Comprehensive and Enhanced Partnership Framework (CEPA)in 2018.

By these agreements, the opportunity to boost the mutual investment flows will be provided between the two signatory countries through the formation of a sustainable and predictable tax field for foreign investors. The signing of an agreement on ruling out double taxation of income and property will further intensify trade and economic relation and make the transfer of the workforce and technologies between the two signatory states even larger.

Favorable mutual investment flows will also be ensured with Korea. The National Assembly of Armenia adopted a law on liberalization, promotion and reciprocal protection of investments between Armenia and the Republic of Korea. The deputy economic minister, Avak Avanesyan, when presenting the document to the lawmakers, stated that the law identifies essential investment protection procedures, compensation for the damage inflicted, and settlement of other disputes between the sides. 

Double Taxation

Avak Avanesyan

Deputy economic minister

This agreement will ensure favorable and equal conditions for mutual investments, a full protection and security to both countries’ investors as well as a just and equal approach in accordance with international norms.”


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