The income and capital tax treaty between Armenia and Serbia reportedly entered into force on 3 November 2016. The treaty, signed 10 March 2014, is the first of its kind between the two countries.
The treaty covers Armenian profit tax, income tax, and property tax. It covers Serbian corporate income tax, personal income tax, and tax on capital.
The following capital gains derived by a resident of one Contracting State may be taxed by the other State:
Gains from the alienation of other property by a resident of a Contracting State may only be taxed by that State.
Both countries apply the credit method for the elimination of double taxation. A tax sparing credit is also provided where tax paid in a Contracting State will be deemed to include tax that is otherwise payable but has been reduced or waived in that State under its legal provisions for tax incentives.
The treaty applies from 1 January 2017.
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