Seychelles initials DTA with Armenia |27 August 2012

The agreement was initialed on behalf of the Seychelles government by Rupert Siméon, the director general of the policy, strategy and investment division in the Ministry of Finance, Trade and Investment, and on behalf of the Republic of Armenia, by Arman Poghosyan, head of state revenue policy and administration methodology department, within Armenia’s Ministry of Finance. The agreement was signed in Yerevan recently.

According to a communiqué from the Ministry of Finance, Trade and Investment, the negotiations were concluded in a friendly atmosphere and a spirit of mutual understanding.

Both delegations fully agreed on all articles, continued the communiqué, adding that the DTA provides for certainty with regard to taxes payable on incomes generated from investments made and on services provided between the two countries.

It also provides an inducement to nationals of both countries to focus their attention on increasing trade, investment and employment opportunities.

Seychelles is in the process of negotiating further DTAs with Singapore, Slovak republic and Isle of Man and has scheduled negotiations with Uganda, Switzerland and Tanzania later this year.

In addition, Seychelles has recently signed a DTA with Bermuda and Luxembourg and has initialed one with San Marino.

In total, Seychelles has 15 DTAs in force and hope to reach 20 by the end of 2012.