Tue, 1 July
14.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Armenia’s parliament approves in final reading a bill exempting non-residents income earned from investing in Armenian government foreign-currency denominated bonds

YEREVAN, September 10. / ARKA /. Armenia’s parliament has approved today in the second and final reading a bill, exempting non-residents’ income earned from investing in the Armenian government foreign-currency denominated bonds from income tax.

According to a deputy finance minister Suren Karayan , who presented the bill, the decision is aimed at encouraging investments of non-residents in the Armenian Eurobonds.

“The problem is that under the current legislation the income of non-residents who invest in bonds are subject to a ten percent tax. When this applied to residents of countries with which Armenia does not have an agreement, their income are double taxed,” he said.

Karayan said all the countries which begin issuing foreign currency-denominated bonds exempt non-residents from this type of tax to encourage investments.

The Armenian government approved August 8 signing of agreements with Deutsche Bank AG, HSBC Bank plc and JPMorgan Securities plc which will act as underwriters of the eurobonds. In May the government approved the first issue of $500 million worth Eurobonds with a maturity period of 10 years. -0-

spot_img

POPULAR

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img