Friday, August 5, 2022
No Result
View All Result
Asbarez.com
NEWSLETTER
ՀԱՅ
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports
No Result
View All Result
Asbarez.com
ՀԱՅ
No Result
View All Result

Why The ANCA Is Pushing For A U.S. – Armenia Double Tax Treaty

by Contributor
July 7, 2016
in Armenia, Commentary, Featured Story, Op-Ed, Top Stories
1
Share on FacebookShare on Twitter

US-Armenia tax treaty
US-Armenia tax treaty

BY RAFFI HAMPARIAN
Remember in 1973 when the Soviets, under Leonid Brezhnev, and the Americans, during Richard Nixon’s presidency, signed a tax treaty?
That’s OK. Neither do I.
That was decades ago. A different time. A very different world.
The Union of Soviet Socialist Republics, our enemy back then, hasn’t existed for a quarter century.
And Armenia, now a free state, is a close friend of the United States.
This old accord – formally known as the Convention between the United States of America and the Union of Soviet Socialist Republics on Matters of Taxation – was outdated the day it was signed (June 20, 1973) by two antagonistic powers, and is clearly no basis for modern day U.S.-Armenia economic cooperation in 2016. In fact, as a matter of international law, Armenia does not even consider itself the legal heir to Moscow’s signature on this antiquated treaty.
And yet, the Obama Administration and its Treasury Department somehow think that this treaty is sufficient to prevent the double taxation of profits generated by the growing number of U.S. and Armenian firms operating in both of these jurisdictions.
It is a sad state of affairs to have the threat of double taxation hanging above each and every bilateral commercial transaction. Business leaders, instead of focusing on creating jobs in the United States and Armenia, are forced to spend time navigating an uncertain taxation environment, meaningfully limiting the scope and depth of their deals to avoid double taxation. Even worse, countless potential companies considering U.S.-Armenia business investments are deterred by the prospect of paying taxes twice on the same earnings. These are the investments that never get made, the trade deals never negotiated, the offices and factories never opened. This is the massive hidden cost of failing to eliminate – via a simple, straightforward treaty – a major barrier to the growth of bilateral commerce. This, very simply, is the price we all pay for indifference on this key economic front.
The case for a double tax agreement between the United States and Armenia is as clear as it is compelling. America has taxation treaties with dozens of countries for good reason, including those with a number of smaller economies. U.S. policymakers know that these treaties are, in a mutually beneficial way, good for both American businesses and workers. Armenia, for its part, has double tax treaties with many nations, including large economies such as the United Kingdom and India. In fact, in June of this year, Armenia signed its latest tax treaty with Germany.
The United Nations Department of Economic and Social Affairs spelled out the rationale for international double tax treaties in a 2011 document: “The growth of investment flows between countries depends to a large extent on the prevailing investment climate. The prevention or elimination of international double taxation in respect of the same income – the effects of which are harmful to the exchange of goods and services and to the movement of capital and persons, constitutes a significant component of such a climate.”
As the ANCA has shared directly with U.S. Secretary of the Treasury Jacob Lew and senior officials of the Republic of Armenia, we view a double tax treaty not as an amenity of U.S.-Armenia bilateral relations, but rather as a baseline treaty for trade and investment. Without such an agreement, investors are faced with uncertainty, and, as we all know, uncertainty is not a factor that enhances commercial ties.
With the Information Technology (IT) sector in Armenia growing and now reportedly employing well over 15,000 individuals, the time has never been better to incentivize U.S. investments in that sector by negotiating a double tax treaty. The fact that IT firms in Armenia, a sector seen as less susceptible to corruption and offering salaries far above the average in Armenia, would benefit from a double tax treaty provides just one more reason to boost this sector in this way. Creating an Armenian equivalent of Silicon Valley could very well be a direct dividend of a new U.S-Armenia double tax treaty.
PicsArt, the digital art application that has over 75 million active users and 300 million downloads is a classic example of the possibilities that exist for IT growth between the United States and Armenia. While Forbes Magazine named PicsArt among its top five “Hottest Startups” last year, the truth is that this hot startup and other firms have to deal with a dinosaur-era tax regime that dates back to 1973. That is not only wrong – but it also sends a negative message to potential U.S. investors in Armenia’s IT sector.
Thankfully, a growing number of U.S. legislators are working with the ANCA to bring attention to the need for a U.S.-Armenia double tax treaty. At a March hearing of the House Financial Services Committee, Congressman Brad Sherman (D-CA) made a special point of pressing Treasury Secretary Jacob Lew to enhance U.S. commercial ties with Armenia by negotiating a tax treaty. When Secretary Lew voiced reservations about the lack of sufficient business with Armenia, Congressman Sherman shot back, describing the situation as a “chicken and egg” scenario. The California Congressman stated: “You don’t get the business investment, because you don’t have the tax treaty. Then you don’t need the tax treaty because you don’t have the business investment. Given that this Congress has provided well over a billion dollars in aid to Armenia, it would seem that having one member of your staff to achieve the same objectives would be appropriate.” In addition to the vigorous support from Congressman Sherman, Congresswoman Judy Chu (D-CA) and Congressman Ted Lieu (D-CA) and others on Capitol Hill are are on record urging Secretary Lew to begin negotiating a double tax treaty with Armenia.
In addition to political support and backing from PicsArt and Triada Studio, global business leaders Microsoft, FedEx, NASDAQ, Marriott, Grant Thornton and firms like Ameria Banking Group and others are on record regarding the benefits of a tax treaty.
A new tax treaty would represent a great way to give substance to the rhetoric – from both Washington and Yerevan – about improving U.S.-Armenia bilateral relations. This accord would both reflect and reinforce the progress we saw last year with the signing of a U.S.-Armenia Trade and Investment Framework Agreement. It would, as well, create the conditions for the future growth of the U.S.-Armenia economic relationship, the continued development of bilateral government-to-government ties, and, of course, the strengthening of the enduring bonds of friendship that have long connected the American and Armenian peoples.
Raffi Hamparian is the Chairman of the Armenian National Committee of America. For more information on the ANCA’s work on trade issues please visit www.anca.org/trade.

Contributor

Contributor

Next Post

Obama, Putin Discuss Karabakh

Comments 1

  1. mabubalah says:
    6 years ago

    “America … a close friend”? Then perhaps you might out to keep America even closer!

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Russia Again Blames Azerbaijan for Ceasefire Violation

In Response to Lavrov, Yerevan Says it Voiced Concerns about Russian Peacekeepers in 2021

6 hours ago
U.S. Wants to Assist Armenia in Reforms

Blinken Discusses Karabakh with Pashinyan, Aliyev

6 hours ago

Connect with us

  • About
  • Advertising
  • Subscribe
  • Contact

© 2021 Asbarez | All Rights Reserved | Powered By MSDN Solutions Inc.

No Result
View All Result
  • Home
  • Top Stories
  • Community
  • Arts & Culture
    • Art
    • Books
    • Music
    • Theatre
    • Critics’ Forum
  • Op-Ed
    • Editorial
    • Opinon
    • Letters
  • Columns
    • By Any Means
    • My Turn
    • Three Apples
    • Community Links
    • Critics’ Forum
    • My Name is Armen
    • Living in Armenia
  • Videos
  • Sports

© 2021 Asbarez | All Rights Reserved | Powered By MSDN Solutions Inc.

Accessibility

Accessibility modes

Epilepsy Safe Mode
Dampens color and removes blinks
This mode enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
Visually Impaired Mode
Improves website's visuals
This mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
Cognitive Disability Mode
Helps to focus on specific content
This mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
ADHD Friendly Mode
Reduces distractions and improve focus
This mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
Blindness Mode
Allows using the site with your screen-reader
This mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.

Online Dictionary

    Readable Experience

    Content Scaling
    Default
    Text Magnifier
    Readable Font
    Dyslexia Friendly
    Highlight Titles
    Highlight Links
    Font Sizing
    Default
    Line Height
    Default
    Letter Spacing
    Default
    Left Aligned
    Center Aligned
    Right Aligned

    Visually Pleasing Experience

    Dark Contrast
    Light Contrast
    Monochrome
    High Contrast
    High Saturation
    Low Saturation
    Adjust Text Colors
    Adjust Title Colors
    Adjust Background Colors

    Easy Orientation

    Mute Sounds
    Hide Images
    Virtual Keyboard
    Reading Guide
    Stop Animations
    Reading Mask
    Highlight Hover
    Highlight Focus
    Big Dark Cursor
    Big Light Cursor
    Navigation Keys

    Asbarez.com Accessibility Statement

    Accessibility Statement

    • www.asbarez.com
    • August 5, 2022

    Compliance status

    We firmly believe that the internet should be available and accessible to anyone, and are committed to providing a website that is accessible to the widest possible audience, regardless of circumstance and ability.

    To fulfill this, we aim to adhere as strictly as possible to the World Wide Web Consortium’s (W3C) Web Content Accessibility Guidelines 2.1 (WCAG 2.1) at the AA level. These guidelines explain how to make web content accessible to people with a wide array of disabilities. Complying with those guidelines helps us ensure that the website is accessible to all people: blind people, people with motor impairments, visual impairment, cognitive disabilities, and more.

    This website utilizes various technologies that are meant to make it as accessible as possible at all times. We utilize an accessibility interface that allows persons with specific disabilities to adjust the website’s UI (user interface) and design it to their personal needs.

    Additionally, the website utilizes an AI-based application that runs in the background and optimizes its accessibility level constantly. This application remediates the website’s HTML, adapts Its functionality and behavior for screen-readers used by the blind users, and for keyboard functions used by individuals with motor impairments.

    If you’ve found a malfunction or have ideas for improvement, we’ll be happy to hear from you. You can reach out to the website’s operators by using the following email

    Screen-reader and keyboard navigation

    Our website implements the ARIA attributes (Accessible Rich Internet Applications) technique, alongside various different behavioral changes, to ensure blind users visiting with screen-readers are able to read, comprehend, and enjoy the website’s functions. As soon as a user with a screen-reader enters your site, they immediately receive a prompt to enter the Screen-Reader Profile so they can browse and operate your site effectively. Here’s how our website covers some of the most important screen-reader requirements, alongside console screenshots of code examples:

    1. Screen-reader optimization: we run a background process that learns the website’s components from top to bottom, to ensure ongoing compliance even when updating the website. In this process, we provide screen-readers with meaningful data using the ARIA set of attributes. For example, we provide accurate form labels; descriptions for actionable icons (social media icons, search icons, cart icons, etc.); validation guidance for form inputs; element roles such as buttons, menus, modal dialogues (popups), and others. Additionally, the background process scans all of the website’s images and provides an accurate and meaningful image-object-recognition-based description as an ALT (alternate text) tag for images that are not described. It will also extract texts that are embedded within the image, using an OCR (optical character recognition) technology. To turn on screen-reader adjustments at any time, users need only to press the Alt+1 keyboard combination. Screen-reader users also get automatic announcements to turn the Screen-reader mode on as soon as they enter the website.

      These adjustments are compatible with all popular screen readers, including JAWS and NVDA.

    2. Keyboard navigation optimization: The background process also adjusts the website’s HTML, and adds various behaviors using JavaScript code to make the website operable by the keyboard. This includes the ability to navigate the website using the Tab and Shift+Tab keys, operate dropdowns with the arrow keys, close them with Esc, trigger buttons and links using the Enter key, navigate between radio and checkbox elements using the arrow keys, and fill them in with the Spacebar or Enter key.Additionally, keyboard users will find quick-navigation and content-skip menus, available at any time by clicking Alt+1, or as the first elements of the site while navigating with the keyboard. The background process also handles triggered popups by moving the keyboard focus towards them as soon as they appear, and not allow the focus drift outside of it.

      Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Disability profiles supported in our website

    • Epilepsy Safe Mode: this profile enables people with epilepsy to use the website safely by eliminating the risk of seizures that result from flashing or blinking animations and risky color combinations.
    • Visually Impaired Mode: this mode adjusts the website for the convenience of users with visual impairments such as Degrading Eyesight, Tunnel Vision, Cataract, Glaucoma, and others.
    • Cognitive Disability Mode: this mode provides different assistive options to help users with cognitive impairments such as Dyslexia, Autism, CVA, and others, to focus on the essential elements of the website more easily.
    • ADHD Friendly Mode: this mode helps users with ADHD and Neurodevelopmental disorders to read, browse, and focus on the main website elements more easily while significantly reducing distractions.
    • Blindness Mode: this mode configures the website to be compatible with screen-readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen-reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it.
    • Keyboard Navigation Profile (Motor-Impaired): this profile enables motor-impaired persons to operate the website using the keyboard Tab, Shift+Tab, and the Enter keys. Users can also use shortcuts such as “M” (menus), “H” (headings), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements.

    Additional UI, design, and readability adjustments

    1. Font adjustments – users, can increase and decrease its size, change its family (type), adjust the spacing, alignment, line height, and more.
    2. Color adjustments – users can select various color contrast profiles such as light, dark, inverted, and monochrome. Additionally, users can swap color schemes of titles, texts, and backgrounds, with over 7 different coloring options.
    3. Animations – epileptic users can stop all running animations with the click of a button. Animations controlled by the interface include videos, GIFs, and CSS flashing transitions.
    4. Content highlighting – users can choose to emphasize important elements such as links and titles. They can also choose to highlight focused or hovered elements only.
    5. Audio muting – users with hearing devices may experience headaches or other issues due to automatic audio playing. This option lets users mute the entire website instantly.
    6. Cognitive disorders – we utilize a search engine that is linked to Wikipedia and Wiktionary, allowing people with cognitive disorders to decipher meanings of phrases, initials, slang, and others.
    7. Additional functions – we provide users the option to change cursor color and size, use a printing mode, enable a virtual keyboard, and many other functions.

    Browser and assistive technology compatibility

    We aim to support the widest array of browsers and assistive technologies as possible, so our users can choose the best fitting tools for them, with as few limitations as possible. Therefore, we have worked very hard to be able to support all major systems that comprise over 95% of the user market share including Google Chrome, Mozilla Firefox, Apple Safari, Opera and Microsoft Edge, JAWS and NVDA (screen readers), both for Windows and for MAC users.

    Notes, comments, and feedback

    Despite our very best efforts to allow anybody to adjust the website to their needs, there may still be pages or sections that are not fully accessible, are in the process of becoming accessible, or are lacking an adequate technological solution to make them accessible. Still, we are continually improving our accessibility, adding, updating and improving its options and features, and developing and adopting new technologies. All this is meant to reach the optimal level of accessibility, following technological advancements. For any assistance, please reach out to