Azerbaijan: New system of custom duties
The transformation to a new system of custom duties kick-started from 1st January 2018, where there has been a pretty hefty amount of changes brought in by Azerbaijan. Especially in the custom rates where – previously since 2001 custom rates such
See MoreAzerbaijan: VAT on Uber rides
Azerbaijan will apply a new VAT rate of 18% on Uber from 1 December 2017. The tax will be collected as a withholding tax on payments through bank
See MoreAzerbaijan: New customs duties declare for import of wheat, rice and corn
The Cabinet of Ministers approved the “Commodity Nomenclature of Foreign Economic Activity, Rates of Import and Export Customs Duties”. According to that the customs duties for import of wheat, rice and corn will be changed from January 1,
See MoreAzerbaijan -New customs duty on export of copper products
In Azerbaijan, the Decree No. 2 of Cabinet of Ministers of 10 January 2017 was published in the Official Gazette (Khalgh Ghezety ) No. 28392(7) on 12 January 2017. According to the Decree, there will be new customs duty rates on the export of
See MoreAzerbaijan-Budget Bill for 2017 adopted
The Parliament of Azerbaijan adopted the draft Budget Bill for 2017 on 16 December 2016. The Bill was submitted to the parliament on 15 November
See MoreAzerbaijan: Published Amendments to Tax Code relatinged to withholding tax regime
In Azerbaijan, Law No. 454-VQD of 16 December 2016 (the Law) introducing certain amendments to the Tax Code has been published in the Official Gazette No. 287 (7431) on 25 December 2016. The Law introduces certain amendments to the withholding tax
See MoreAzerbaijan-Published amendments to the Tax Code related to Transfer Pricing rules
The new amendments to the Azerbaijani Tax Code were published on 25 December 2016. The amendments introduced new Transfer Pricing provisions to the Tax Code. These amendments are effective from 1 January 2017. According to the new rules taxes may
See MoreIncome tax treaty between Azerbaijan and Sweden enters into force
The income tax treaty between Azerbaijan and Sweden entered into force on 31 December 2016. The convention was signed on February of 2016 and involves the avoidance of double taxation and the prevention of fiscal evasion. In general, the provision
See MoreAzerbaijan-Budget Bill for 2017 submitted to parliament
Azerbaijan’s Budget Bill for 2017 had been submitted to the parliament on 15 November 2015. The Bill specifies various measures on tax, customs and social security to be taken in 2017. According to the plans stipulated on the Budget Bill, the
See MoreAzerbaijan: Parliament Approves Tax Code Amendments to Introduce Excise Tax
Azerbaijan has introduced excise tax on precious metals, and set new tax rates for imported cars, imported yachts, and domestically produced alcohol and tobacco. Excise on imported diamonds will be set at AZN200 (USD255) per carat, at AZN2 per gram
See MoreAzerbaijan: The Ministry of Taxes and the IFC are Working to Protect Withdrawal of Profits from Taxation
The Ministry of Taxes of Azerbaijan and the International Finance Corporation (IFC) are working on a draft agreement on transfer pricing. The aim is to protect withdrawal of profits from Taxation. Azerbaijan will be able to go to the international
See MoreAzerbaijan: Tax Code Amendments Comes into Force From 1 January 2015
President of Azerbaijan has approved and published the amendments to the Tax Code, which have already come into force. Individuals whose monthly income is less than AZN 250 are exempt from personal income tax. So the individuals whose annual income
See MoreAzerbaijan: Tax Withholding On Income from Bank Deposits Needs To Take Into Account the Relevant Rebate
Senior officials of Ministry of Taxes and banks in Azerbaijan held a meeting on January 9. It was decided in the meeting that the tax withholding on incomes from bank deposits will be applied on the interests charged by 1 January 2015 taking into
See MoreAzerbaijan: approves tax code amendments to introduce excise tax and to set new tax rates
The Parliament of Azerbaijan has approved amendments of tax code introducing excise tax on precious metals, and setting new tax rates for imported cars, imported yachts, and domestically produced alcohol and tobacco. As per legislation, excise on
See MoreDTA between Azerbaijan and Saudi Arabia approved by Azerbaijan
Azerbaijan and Saudi Arabia have signed a protocol for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and property. Azerbaijan ratified the treaty on 30 September
See MoreAzerbaijan: Transition to the Modern Model of the Concept of Tax Partnership Tax Control System with Horizontal Monitoring
The costly traditional tax control system is based on the principles of taxation established 55-60 years ago. The traditional tax control system is costly since closely exerting control in pursuit of reassurance of compliance imposes a great
See MoreAzerbaijan – Singapore: Approves DTA
Azerbaijan’s lower house of parliament approved a Protocol to the double taxation agreement (DTA) with Singapore on May 14, 2014. No further details of the Protocol are currently
See MoreAzerbaijan -Saudi Arabia: Protocol to DTA
Azerbaijan and Saudi Arabia signed a double taxation agreement (DTA) on May 13, 2014. No further details of the agreement are currently
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