In 2023, Armenia signed and ratified the agreement on the implementation of the unified reporting standard, which provides for the international exchange of financial accounts. This is the most important tool for tax transparency. It enables the exchange of financial account information between different countries. This year, Armenia has already exchanged information within the framework of the agreement with more than 40 countries.

This information was reported by Deputy Chairman of RA State Revenue Committee Rafael Gevorgyan at the session of the Standing Committee on Economic Affairs. In the first reading, he submitted for discussion the draft law on ratifying the addition of the multilateral agreement of competent authorities “On the automatic exchange of information on financial accounts”.

The changes mainly refer to self-declaration, identification rules, identification of account holders of organizations and persons related to clarification of certain provisions of the agreement.

The issue received a positive conclusion from the commission.

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