Azerbaijan has proposed changes to the Tax Code on penalties for tax non-compliance and country-by-country (CbC) reporting.
The penalty for failing to submit requested documents and information to the tax authorities within 60 days will be increased from AZN 2,000 to AZN 6,000. A proposed AZN 10,000 penalty for non-compliance with Country-by-Country (CbC) reports may also apply to CbC notifications.
If approved, the amendments will take effect on 1 January 2025.
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