TODAY.AZ / Business

Azerbaijan annuls double taxation with number of EU countries

20 December 2013 [14:43] - TODAY.AZ
By AzerNews

Azerbaijan will sign agreement on avoidance of double taxation with seven European Union countries, Head of International Relations of the Taxes Ministry Metin Kerimli told the Vergiler (Taxes) newspaper.

Recently, Azerbaijan has expanded the list of countries, with which it signed the relevant agreement, Kerimli said.

"Forty-one agreements of the total 45 signed by our country, has already entered into force. Others will come into force after the completion of the relevant procedures. Accelerated expansion of Azerbaijan's economic and trade relations makes such agreements of objective necessity. Currently, the ministry is carrying out systematic work in this regard," Kerimli said.

He noted that as for the EU countries, the agreements on avoiding double taxation in force with 20 of the 28 EU member states.

"Negotiations with Spain and Denmark on the agreements have been completed, and the talks are underway with Portugal, Sweden, Malta, Ireland and Slovakia. Hopefully, they will be successfully completed in the near future," Kerimli said.

Earlier this September, the Taxes Ministry said, double taxation avoidance agreements will be implemented between Azerbaijan, Croatia, and Macedonia from January 2014.

In Azerbaijan these agreements will cover individuals' income tax, tax on the profit of legal entities and property and land tax. In Croatia the agreements will cover income tax, profit tax, local income tax, and in Macedonia - the individual income tax, profit tax, property tax.

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