US Representative Brad Sherman (D-CA) on February 6 received a commitment from US Treasury Secretary Steven Mnuchin to devote at least 28 man hours toward work on renegotiating the US-Armenia Double Tax Treaty.
Speaking at US House Financial Services Committee hearing, Sherman said that 28 members of Congress support renegotiation of the US-Armenia tax treaty and asked Treasury to devote one man hour per member to this task. Mnuchin agreed.
Sherman said that tax treaty negotiations will be easy because Armenia is willing to work with the US model tax treaty.
Armenia has been seeking a rewrite of the treaty, claiming the existing arrangement creates barriers to investment.