Triada Studio calls to eliminate double taxation between the US and Armenia

Shadowmatic game creator Triada Studio joined the urge addressed to the President of the U.S. Barak Obama to reach for treaty eliminating double taxation between the US and Armenia.

Armenian National Committee of America (ANCA) told about that.

In a letter sent today to President Obama, Triada Studio CEO Ara Aghamyan explained that his company is helping to drive the growth of Armenia’s tech economy, contributing to the expansion of U.S.-Armenia commerce, fostering Armenia’s continued integration into the international community.

“Unfortunately, barriers to continued progress remain, including the prospect of double taxation” said Ara Aghamyan adding that Double Tax Treaty would eliminate this risk, establishing a clear legal framework for companies that operate in both jurisdictions.

It should be recalled that PicsArt also joined the initiative on February 24. Microsoft, FedEx, NASDAQ, Marriott, Grant Thornton also joined the call.

Other firms in support of these common sense measures include: Ameria Banking Group, Prudence Legal Advisory and Counseling, Baker Tilley Armenia, Synergy, Tufenkian Heritage Hotels, Altacode, Leda Campus LLC, Levon Travel, Unicomp, Synopsys, Megerian Carpet, National Instruments, Mentor Graphics, First Mortgage, Geoteam, Hylink, LC Distribution, and Linkgard Systems.

It should be recalled that on May 2015, 2015, Armenia and the U.S signed Trade and Investment Framework Agreement (TIFA), which confirmed their intention to create favorable conditions for investment and trade, promoting trade between the two countries.

In November of last year, U.S. Deputy Assistant Secretary Bridget Brink stated that he United States is optimistic about the agreement on elimination of double taxation in Armenia.