Dividends, royalties, interest, and property lease payments paid by a locally resident company to a non-resident are subject to a withholding tax at a rate of 10%. The local company making the payments deducts the amount of withholding tax at the source of paying income.

However, if the recipient of the payment is a resident of a State with which Armenia has an income treaty for avoidance of double taxation (see the full list of these countries and treaties here), and, if the tax rates provided by said treaty are more beneficial to the recipient, reduced rates shall apply.