David Joulfaian

Since 1994, shortly after its independence, Armenia signed tax treaties to avoid double taxation of income and profits with 27 countries. In many ways these efforts reflect the expansion in economic activity in Armenia, and the flow of foreign investments. Tax treaties deal with problems that arise when residents, individuals and business entities, of one nation earn income in another country. More specifically, these agreements set out a framework for the tax treatment of income and profits flowing between Armenia and treaty partner countries....

Armenia has a long and proud tradition of education and training in mathematics and the sciences, as well as in the arts and music. Given the very same historic legacy, however, Armenia began its independence in 1991 endowed with very few professionals trained in finance, management science, and economics. The absence of such professionals and training institutions has left its marks on the governance and management of the economy, with consequences so deleterious that they raise doubts on whether Armenia will become a fully functioning economy any time soon....