CONGRESSIONAL ARMENIAN CAUCUS CO-CHAIRS APPEAL ADMINISTRATION TO EXPEDITE ARMENIAN-AMERICAN TAX AGREEMENT

Congressional Armenian Caucus Co-Chairmen Joe Knollenberg and Frank Pallone have appealed the Treasury Secretary Paul O’Neill to assist in expediting a bilateral American-Armenian tax treaty. The adoption of the treaty would help to avoid double taxation on incomes of the citizens that work in the two countries. This document would clarify the taxation of investments, rents, dividends, incomes of companies, salaries of employees working in Armenia and the United States. According to Executive Director of Armenian National Committee of America Aram Hamparian, the adoption of this treaty would contribute to strengthening of Armenian-American economic relationship and expanding trade and investment opportunities for businesses.