The White Paper is based on a survey of 34 members of the American and European Union Chambers of Commerce in Armenia concerning the Armenian Tax System. The study was conducted as a pro bono service by Arlex International Ltd., on behalf of the AmericanChamber of Commerce, in conjunction with the European Union Chamber of Commerce.

As the first joint effort between AMCHAM and EUCCA, the Paper's broad objective is to provide the basis for a long-term, mutually rewarding future relationship that will bring together the entire business community and strengthen its role and participation in policy and law-making in Armenia.

More specifically, the Paper aims to truthfully and accurately present the views expressed during this survey by foreign investors in Armenia on the Armenian Tax system as it functions currently and their recommendations for the reform of the Tax System that will be addressed by the Armenian Government in the autumn of 2003.