TCuFP Committee Meeting

On 8 November 2022, AmCham held a Tax, Customs, and Fiscal Policy (TCuFP) Committee meeting at DoubleTree by Hilton Yerevan City Centre.

Gagik Gyulbudaghyan, AmCham 2nd Vice-President, Irina Dumanyan, AmCham Board of Director, 9 members of the committee, and AmCham executive team participated at the meeting.

Nerses Nersisyan, the TCuFP Committee Chair, welcomed the participants and introduced the agenda, which was approved unanimously. The main focuses of the meeting were:

· Double Tax Treaty with the U.S.

· Updates on the Repatriation, Integration, and Immigration project

· AmCham’s position on the tax legislation changes initiated by the State Revenue Committee

· Updates on the Comprehensive Health Insurance initiative

· Draft Investment Strategy of the Ministry of Economy based on the Investment reform roadmap

Regarding the Double Tax Treaty with the U.S., it was suggested to check with MoF, MFA, or other responsible authorities about legal grounds for maintaining the clauses on Double Taxation of the U.S.- USSR Treaty and study the possibility of following the example of Israel case (taxation by citizenship vs residency).

Regarding the updates on the Repatriation, Integration, and Immigration initiative G. Gyulbudaghyan, the Chair of the Repatriation, Integration, and Immigration Working Group (WG), suggested scheduling a meeting with Zareh Sinanyan, High Commissioner of Diaspora Affairs of Armenia, and Orion Worldwide Innovations (AmCham member).

Regarding the updates on the Comprehensive Health Insurance initiative, the WG members updated the attendees about the meetings with the Ministry of Finance, the Ministry of Economy, and the Central Bank of Armenia.

Regarding the draft Investment Strategy of the Ministry of Economy based on the Investment reform roadmap, it was suggested to collect and present comments from AmCham member companies, further to be sent to the Ministry of Economy.